[DFAN14A] Avidity Biosciences, Inc. SEC Filing
Novartis AG filed a DFAN14A featuring an employee letter about its proposed acquisition of Avidity Biosciences (RNA) and a related spin-off or sale of SpinCo. The message highlights Avidity’s RNA therapeutics platform and late-stage programs in DM1, FSHD, and DMD, and notes that both companies will operate separately until closing.
Avidity will deliver a definitive proxy statement and proxy card to stockholders in advance of a special meeting to consider the transactions. The communication includes extensive forward‑looking statements and emphasizes conditions such as regulatory approvals and Avidity stockholder approval. It also outlines potential risks, including disruption from the transactions, execution of the SpinCo separation, competing proposals, and possible stockholder litigation.
Novartis AG ha presentato una DFAN14A contenente una lettera ai dipendenti riguardo alla proposta acquisizione di Avidity Biosciences (RNA) e una relativa spin-off o vendita di SpinCo. Il messaggio mette in evidenza la piattaforma di RNA therapeutics di Avidity e i programmi in fase avanzata in DM1, FSHD e DMD, e osserva che entrambe le aziende opereranno separatamente fino alla chiusura.
Avidity consegnerà una dichiarazione di proxy definitiva e una scheda di voto agli azionisti prima di una riunione speciale per esaminare le transazioni. La comunicazione include numerose dichiarazioni previsionali e enfatizza condizioni come le approvazioni regolatorie e l'approvazione da parte degli azionisti di Avidity. Descrive anche potenziali rischi, tra cui interruzioni derivanti dalle operazioni, l'esecuzione della separazione SpinCo, proposte concorrenti e possibili cause legali da parte degli azionisti.
Novartis AG presentó un DFAN14A con una carta para los empleados sobre su propuesta de adquisición de Avidity Biosciences (RNA) y una spin-off o venta relacionada de SpinCo. El mensaje destaca la plataforma de terapias de RNA de Avidity y los programas en etapas avanzadas en DM1, FSHD y DMD, y señala que ambas compañías operarán por separado hasta el cierre.
Avidity entregará una propuesta de voto definitiva y una tarjeta de voto a los accionistas antes de una reunión especial para considerar las transacciones. La comunicación incluye extensas declaraciones prospectivas y enfatiza condiciones como las aprobaciones regulatorias y la aprobación por parte de los accionistas de Avidity. También describe riesgos potenciales, incluyendo interrupciones por las transacciones, la ejecución de la separación SpinCo, propuestas competitivas y posibles litigios por parte de accionistas.
노바티스 AG가 DFAN14A를 제출했습니다 직원에게 보낸 편지를 포함하고 Avidity Biosciences (RNA)의 제안된 인수 및 관련 분사 또는 매각에 관한 내용입니다. 메시지는 Avidity의 RNA 치료 플랫폼과 DM1, FSHD, DMD의 후기 단계 프로그램을 강조하며 양사가 종결까지는 별도 운영될 것이라고 밝힙니다.
Avidity는 주주들에게 특별 회의를 고려하기 위한 결정적인 위임장/의사표시서(definitive proxy statement)와 의사표를 전달할 예정입니다. 이 커뮤니케이션에는 다수의 전망 진술이 포함되며 규제 승인 및 Avidity 주주 승인과 같은 조건을 강조합니다. 또한 거래로 인한 중단, SpinCo 분리의 실행, 경쟁 제안 및 주주 소송 가능성과 같은 잠재적 위험을 개략합니다.
Novartis AG a déposé une DFAN14A contenant une lettre aux employés concernant son projet d'acquisition de Avidity Biosciences (RNA) et une éventuelle scission ou vente associée de SpinCo. Le message met en évidence la plateforme RNA thérapeutique d'Avidity et des programmes en phase avancée dans DM1, FSHD et DMD, et indique que les deux sociétés fonctionneront séparément jusqu'à la clôture.
Avidity transmettra un proxy statement définitif et une carte d'actionnaires à l'avance d'une assemblée extraordinaire pour examiner les transactions. La communication comprend de nombreuses déclarations prospectives et met l'accent sur des conditions comme les approbations réglementaires et l'approbation des actionnaires d'Avidity. Elle décrit également les risques potentiels, notamment les perturbations causées par les transactions, l'exécution de la scission SpinCo, des propositions concurrentes et d'éventuelles litiges d'actionnaires.
Novartis AG hat eine DFAN14A eingereicht mit einem Mitarbeiterschreiben über den vorgeschlagenen Erwerb von Avidity Biosciences (RNA) und eine damit zusammenhängende Abspaltung oder den Verkauf von SpinCo. Die Mitteilung hebt Aviditys RNA-Therapieplattform und späte Programme in DM1, FSHD und DMD hervor und weist darauf hin, dass beide Unternehmen bis zum Closing getrennt operieren werden.
Avidity wird eine definitive proxy statement und eine Stimmkarte den Aktionären vor einer Sondersitzung zur Prüfung der Transaktionen übermitteln. Die Kommunikation enthält umfangreiche forward‑looking statements und betont Bedingungen wie regulatorische Zulassungen und die Zustimmung der Avidity-Aktionäre. Sie skizziert auch potenzielle Risiken, einschließlich Störungen durch die Transaktionen, Durchführung der SpinCo-Abspaltung, konkurrierende Vorschläge und mögliche Aktionärsklagen.
شركة نوفارتس AG قدمت DFAN14A تتضمن رسالة من موظف حول اقتراحها بالاستحواذ على Avidity Biosciences (RNA) وتتعلق بفصل أو بيع ذو صلة لـ SpinCo. تُبرز الرسالة منصة Avidity للعلاج RNA وبرامجها في المراحل المتقدمة في DM1 وFSHD وDMD، وتذكر أن الشركتين ستعملان بشكل منفصل حتى الإغلاق.
ستقدم Avidity تصريح تفويض نهائي ولوحة تصويت للمساهمين قبل اجتماع خاص للنظر في المعاملات. تتضمن الاتصالات العديد من تصريحات مستقبلية وتؤكد شروطاً مثل الموافقات التنظيمية وموافقة مساهمي Avidity. كما توضح مخاطر محتملة، بما في ذلك الاضطراب الناتج عن المعاملات، تنفيذ فصل SpinCo، مقترحات منافسة، وإجراءات دعاوى محتملة من المساهمين.
- None.
- None.
Insights
Administrative step toward an Avidity sale; terms not included.
Novartis uses a DFAN14A to disseminate a communication tied to its proposed acquisition of Avidity and a planned SpinCo separation. The excerpt describes ongoing separate operations until closing and indicates a forthcoming definitive proxy for an Avidity stockholder vote. This signals the solicitation process is underway but does not specify deal economics in this excerpt.
The language lists conditions such as regulatory approvals and stockholder approval, and details potential risks: SpinCo separation execution, competing offers, transaction costs, and litigation exposure. These caveats are typical for strategic M&A and highlight contingencies that could delay or prevent closing.
Key near-term milestone is delivery of the definitive proxy before the special meeting. Actual impact will depend on the proxy’s disclosed terms and the outcome of required approvals.
Novartis AG ha presentato una DFAN14A contenente una lettera ai dipendenti riguardo alla proposta acquisizione di Avidity Biosciences (RNA) e una relativa spin-off o vendita di SpinCo. Il messaggio mette in evidenza la piattaforma di RNA therapeutics di Avidity e i programmi in fase avanzata in DM1, FSHD e DMD, e osserva che entrambe le aziende opereranno separatamente fino alla chiusura.
Avidity consegnerà una dichiarazione di proxy definitiva e una scheda di voto agli azionisti prima di una riunione speciale per esaminare le transazioni. La comunicazione include numerose dichiarazioni previsionali e enfatizza condizioni come le approvazioni regolatorie e l'approvazione da parte degli azionisti di Avidity. Descrive anche potenziali rischi, tra cui interruzioni derivanti dalle operazioni, l'esecuzione della separazione SpinCo, proposte concorrenti e possibili cause legali da parte degli azionisti.
Novartis AG presentó un DFAN14A con una carta para los empleados sobre su propuesta de adquisición de Avidity Biosciences (RNA) y una spin-off o venta relacionada de SpinCo. El mensaje destaca la plataforma de terapias de RNA de Avidity y los programas en etapas avanzadas en DM1, FSHD y DMD, y señala que ambas compañías operarán por separado hasta el cierre.
Avidity entregará una propuesta de voto definitiva y una tarjeta de voto a los accionistas antes de una reunión especial para considerar las transacciones. La comunicación incluye extensas declaraciones prospectivas y enfatiza condiciones como las aprobaciones regulatorias y la aprobación por parte de los accionistas de Avidity. También describe riesgos potenciales, incluyendo interrupciones por las transacciones, la ejecución de la separación SpinCo, propuestas competitivas y posibles litigios por parte de accionistas.
노바티스 AG가 DFAN14A를 제출했습니다 직원에게 보낸 편지를 포함하고 Avidity Biosciences (RNA)의 제안된 인수 및 관련 분사 또는 매각에 관한 내용입니다. 메시지는 Avidity의 RNA 치료 플랫폼과 DM1, FSHD, DMD의 후기 단계 프로그램을 강조하며 양사가 종결까지는 별도 운영될 것이라고 밝힙니다.
Avidity는 주주들에게 특별 회의를 고려하기 위한 결정적인 위임장/의사표시서(definitive proxy statement)와 의사표를 전달할 예정입니다. 이 커뮤니케이션에는 다수의 전망 진술이 포함되며 규제 승인 및 Avidity 주주 승인과 같은 조건을 강조합니다. 또한 거래로 인한 중단, SpinCo 분리의 실행, 경쟁 제안 및 주주 소송 가능성과 같은 잠재적 위험을 개략합니다.
Novartis AG a déposé une DFAN14A contenant une lettre aux employés concernant son projet d'acquisition de Avidity Biosciences (RNA) et une éventuelle scission ou vente associée de SpinCo. Le message met en évidence la plateforme RNA thérapeutique d'Avidity et des programmes en phase avancée dans DM1, FSHD et DMD, et indique que les deux sociétés fonctionneront séparément jusqu'à la clôture.
Avidity transmettra un proxy statement définitif et une carte d'actionnaires à l'avance d'une assemblée extraordinaire pour examiner les transactions. La communication comprend de nombreuses déclarations prospectives et met l'accent sur des conditions comme les approbations réglementaires et l'approbation des actionnaires d'Avidity. Elle décrit également les risques potentiels, notamment les perturbations causées par les transactions, l'exécution de la scission SpinCo, des propositions concurrentes et d'éventuelles litiges d'actionnaires.
Novartis AG hat eine DFAN14A eingereicht mit einem Mitarbeiterschreiben über den vorgeschlagenen Erwerb von Avidity Biosciences (RNA) und eine damit zusammenhängende Abspaltung oder den Verkauf von SpinCo. Die Mitteilung hebt Aviditys RNA-Therapieplattform und späte Programme in DM1, FSHD und DMD hervor und weist darauf hin, dass beide Unternehmen bis zum Closing getrennt operieren werden.
Avidity wird eine definitive proxy statement und eine Stimmkarte den Aktionären vor einer Sondersitzung zur Prüfung der Transaktionen übermitteln. Die Kommunikation enthält umfangreiche forward‑looking statements und betont Bedingungen wie regulatorische Zulassungen und die Zustimmung der Avidity-Aktionäre. Sie skizziert auch potenzielle Risiken, einschließlich Störungen durch die Transaktionen, Durchführung der SpinCo-Abspaltung, konkurrierende Vorschläge und mögliche Aktionärsklagen.
شركة نوفارتس AG قدمت DFAN14A تتضمن رسالة من موظف حول اقتراحها بالاستحواذ على Avidity Biosciences (RNA) وتتعلق بفصل أو بيع ذو صلة لـ SpinCo. تُبرز الرسالة منصة Avidity للعلاج RNA وبرامجها في المراحل المتقدمة في DM1 وFSHD وDMD، وتذكر أن الشركتين ستعملان بشكل منفصل حتى الإغلاق.
ستقدم Avidity تصريح تفويض نهائي ولوحة تصويت للمساهمين قبل اجتماع خاص للنظر في المعاملات. تتضمن الاتصالات العديد من تصريحات مستقبلية وتؤكد شروطاً مثل الموافقات التنظيمية وموافقة مساهمي Avidity. كما توضح مخاطر محتملة، بما في ذلك الاضطراب الناتج عن المعاملات، تنفيذ فصل SpinCo، مقترحات منافسة، وإجراءات دعاوى محتملة من المساهمين.
诺华集团提交了 DFAN14A，其中包含关于其拟议收购 Avidity Biosciences (RNA) 及相关的 SpinCo 分拆或出售的员工信函。该信息强调 Avidity 的 RNA 治疗平台及在 DM1、FSHD、DMD 等领域的后期阶段项目，并指出两家公司在完成前将分别独立运作。
Avidity 将向股东在特别大会之前发送一份最终代理声明及代理表以用于表决。该沟通包括大量前瞻性陈述，并强调如监管批准和 Avidity 股东批准等条件。它还概述潜在风险，包括交易带来的中断、SpinCo 分离的执行、竞争性提案，以及股东可能提起的诉讼。
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
(Rule 14a-101)
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE
SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )
Filed by the Registrant ☐
Filed by a Party other than the Registrant x
Check the appropriate box:
| ☐ | Preliminary Proxy Statement |
| ☐ | Confidential, for Use of the Commission Only (as permitted by Rule14a-6(e)(2)) |
| ☐ | Definitive Proxy Statement |
| ☐ | Definitive Additional Materials |
| x | Soliciting Material Pursuant to Rule 14a-12 |
AVIDITY BIOSCIENCES, INC.
(Name of Registrant as Specified in its Charter)
NOVARTIS AG
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check all boxes that apply):
| x | No fee required |
| ☐ | Fee paid previously with preliminary materials |
| ☐ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 |
Filed by Novartis AG
Pursuant to Rule 14a-12 under the
Securities Exchange Act of 1934, as amended
Subject Company: Avidity Biosciences, Inc.
Commission File No.: 001-39321
The following is an email message sent to employees of Avidity Biosciences, Inc. (“Avidity”) on October 27, 2025 related to the potential acquisition of Avidity by Novartis AG.
Welcome letter from Vas Narasimhan, CEO of Novartis to Avidity Biosciences employees: Exciting times in RNA therapeutics
Dear Avidity Biosciences Colleagues,
Yesterday marked an exciting step forward in our shared mission to reimagine medicine. On behalf of all of us at Novartis, I want to reiterate our excitement about our agreement and the opportunity to partner with you in this important work. Since the beginning, it’s been clear that Avidity is driven by the same bold ambition that inspires us: to bring transformative science to patients who need it most.
Your pioneering work in RNA therapeutics and the AOC platform reflects deep scientific excellence and an unwavering commitment to patients, qualities that resonate deeply with our purpose at Novartis to reimagine medicine. Together, we have the potential to accelerate innovation for people living with devastating genetic neuromuscular diseases—delivering treatments that target the root causes for these conditions.
Your late-stage programs in DM1, FSHD, and DMD are remarkable achievements. We are committed to advancing these potential first-in-disease therapies by leveraging our global development and commercialization capabilities, so that patients with limited options today can have hope for tomorrow.
I would like to extend my gratitude to the Avidity leadership team and everyone who helped make this milestone possible. Over the coming months and until closing, Novartis and Avidity will continue to operate as separate and independent companies, and we will keep you informed as plans evolve.
Once the transaction closes, we look forward to learning from you, supporting you, and joining forces to advance near-term launches that will bring life-changing medicines to patients around the globe.
Best regards,
Vas
Additional information and Where to Find It
In connection with the spin-off or sale of SpinCo and the merger (the “Transactions”), Novartis, Avidity and SpinCo intend to file relevant documents with the Securities and Exchange Commission (the “SEC”), including a preliminary and definitive proxy statement to be filed by Avidity. The definitive proxy statement and proxy card will be delivered to the stockholders of Avidity in advance of the special meeting relating to the Transactions. This document is not a substitute for the proxy statement or any other document that may be filed by Avidity with the SEC. AVIDITY’S STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS FILED BY EACH OF NOVARTIS AND AVIDITY WITH THE SEC IN CONNECTION WITH THE TRANSACTIONS OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS AND THE PARTIES TO THE TRANSACTIONS. Investors and security holders will be able to obtain a free copy of the proxy statement and such other documents containing important information about Novartis and Avidity, once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov. Novartis and Avidity make available free of charge at the Novartis website at www.novartis.com/investors/financial-data/sec-filings and Avidity’s website at investors.aviditybiosciences.com/sec-filings, respectively, copies of documents they file with, or furnish to, the SEC.
Participants in the Solicitation
This letter does not constitute a solicitation of a proxy. Novartis, Avidity and their respective directors, executive officers and certain employees may be deemed to be participants in the solicitation of proxies from the stockholders of Avidity in connection with the Transactions. Information regarding the special interests of these directors and executive officers in the Transactions will be included in the definitive proxy statement referred to above. Security holders may also obtain information regarding the names, affiliations and interests of the Novartis directors and executive officers in the Novartis Annual Report on Form 20-F for the fiscal year ended December 31, 2024, which was filed with the SEC on January 31, 2025. Security holders may obtain information regarding the names, affiliations and interests of Avidity’s directors and executive officers in Avidity’s definitive proxy statement on Schedule 14A, which was filed with the SEC on April 29, 2025. To the extent the holdings of Avidity’s securities by Avidity’s directors and executive officers have changed since the amounts set forth in Avidity’s definitive proxy statement for its 2025 annual meeting of stockholders, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. These documents (when available) may be obtained free of charge from the SEC’s website at www.sec.gov, the Novartis website at https://www.novartis.com and Avidity’s website at https://aviditybiosciences.com. The contents of the websites referenced above are not deemed to be incorporated by reference into the proxy statement.
No Offer or Solicitation
This letter is for informational purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.
Cautionary Statement Regarding Forward-Looking Statements
This letter contains statements that are “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as “potential,” “can,” “will,” “plan,” “may,” “could,” “would,” “expect,” “anticipate,” “look forward,” “believe,” “committed,” “investigational,” “pipeline,” “launch,” or similar terms, or by express or implied discussions regarding the proposed acquisition of Avidity and Avidity’s related spin-off or sale of SpinCo, the expected timetable for completing each of the proposed Transactions, the composition of the assets and liabilities to be held by SpinCo and Avidity following the spin-off or sale, the SpinCo’s cash balance, potential marketing approvals, new indications or labeling for Avidity’s product candidates, Avidity’s platform and preclinical assets, or potential future revenues from Avidity’s product candidates. You should not place undue reliance on these statements. Such forward-looking statements are based on our current beliefs and expectations regarding future events, and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that Avidity’s investigational products will be submitted or approved for sale or for any additional indications or labeling in any market, or at any particular time, or that Avidity’s approach to the discovery and development of product candidates based on its AOC™ platform will produce any products of commercial value. There can be no guarantee that the conditions to the closing of the Transactions will be satisfied on the expected timetable or at all or that the expected benefits or synergies from the Transactions will be achieved in the expected timeframe, or at all. In particular, expectations regarding Avidity, SpinCo, or the Transactions could be affected by, among other things, the timing of the satisfaction of customary closing conditions, including the receipt of regulatory approvals and the approval of Avidity’s stockholders, on acceptable terms or at all; risks and costs related to the implementation of the separation of SpinCo, including the ability to complete the separation in the anticipated timeframe, or at all, and any changes to the configuration of the businesses included in the separation if implemented; the sale of certain of SpinCo’s assets pursuant to a third party right of first negotiation; the risk that competing offers or acquisition proposals will be made; the effects of disruption from the Transactions and the impact of the announcement and pendency of the Transactions on Novartis and/or Avidity’s businesses, including their relationships with employees, business partners or governmental entities; the risk that the Transactions may be more expensive to complete than anticipated; the risk that stockholder litigation in connection with the Transactions may result in significant costs of defense, indemnification and liability; a diversion of management’s attention from ongoing business operations and opportunities as a result of the Transactions or otherwise; the uncertainties inherent in research and development, including clinical trial results and additional analysis of existing clinical data; regulatory actions or delays or government regulation generally; and the risks and factors referred to in Novartis AG’s most recent Annual Report on Form 20-F for the year ended December 31, 2024, Avidity’s Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025, and any subsequent filings made by either party with the SEC, available on the SEC’s website at www.sec.gov. Novartis is providing the information in this letter as of this date and does not undertake any obligation to update any forward-looking statements contained in this letter as a result of new information, future events or otherwise, except to the extent required by law.
FAQ
What did Novartis disclose in the DFAN14A regarding Avidity (RNA)?
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What approvals are required for the Avidity–Novartis transactions?
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