Novartis agreed to acquire Excellergy for up to $2 billion, adding Exl-111—an effector cell response inhibitor targeting IgE—to its allergy pipeline. Exl-111 is in Phase 3 development and is designed to disarm allergic effector cells without activating mast cells and basophils. The purchase follows Excellergy’s recent funding and builds on Novartis’ established IgE franchise anchored by Xolair.