Avidity Biosciences Sets Atrium Spinoff Ahead of Novartis Buyout

Avidity Biosciences – the San Diego rare disease biotech being acquired by Novartis for $12 billion – is spinning off its early-stage cardiology unit into a new company called Atrium Therapeutics. In a move that gives Avidity’s shareholders a parting gift as they surrender the rest of the company to Novartis, Avidity’s board designated February 12, 2026 as…