Novartis completed its $12 billion acquisition of Avidity Biosciences and simultaneously spun out Atrium Therapeutics to carry forward Avidity’s early cardiac RNA programs. Atrium launched with $270 million in backing and two preclinical candidates targeting genetic cardiomyopathies, absorbing assets that Novartis did not fold into its core pipeline. The transaction reallocates Avidity’s muscle‑directed RNA expertise: Novartis took the late‑stage assets while Atrium retains earlier cardio‑focused programs. Company statements and filings describe the spinout as a way to advance specialized rare‑cardiomyopathy efforts outside Novartis’ primary oncology and broader cardiometabolic priorities. This move illustrates how large pharma continues to carve out specialized spinouts when acquisitions produce surplus or early‑stage assets that may advance faster under a focused, well‑capitalized NewCo.