Novartis agreed to acquire Excellergy in a deal valued at up to $2 billion, aiming to add a next-generation anti-IgE program that could succeed Xolair. Excellergy’s lead asset, Exl-111, is a half-life-extended anti-IgE antibody in Phase I trials, designed to downregulate FcεRIα by targeting receptor-bound IgE. The purchase follows Excellergy’s rapid early-stage funding ramp, and the transaction is positioned to strengthen Novartis’ immunology and allergy franchise amid intensifying competition in IgE-driven diseases. Novartis said it expects to close in the second half of 2026, pending regulatory approvals and standard closing conditions. For the allergy market, the acquisition signals continued corporate focus on engineered anti-IgE mechanisms intended to deliver faster and deeper IgE signaling suppression than conventional approaches.