Novartis AG has agreed to buy U.S. biotech firm Regulus Therapeutics Inc. in a deal that could be valued at up to $1.7 billion.

With the merger, the Swiss pharmaceutical company aims to bring to more patients farabursen, a kidney-disease treatment developed by Regulus.

Swiss pharmaceutical giant Novartis is poised to expand its profile in the San Diego area, announcing plans to acquire Regulus Therapeutics, a local company on the cusp of bringing a potential breakthrough treatment for kidney disease onto the market.