Novo Nordisk has entered into a definitive agreement to acquire Corvidia Therapeutics, a privately held, clinical stage company focused on the research and development of transformative therapies for cardio-renal diseases.
The acquisition is part of Novo Nordisk’s strategy to expand its presence across a range of cardiometabolic diseases that are closely linked to its core business within diabetes and obesity.
Corvidia Therapeutics’ lead candidate, ziltivekimab, a fully human monoclonal antibody directed against Interleukin-6 (IL-6), is being developed to reduce the risk of major adverse cardiovascular events in chronic kidney disease (CKD) patients with atherosclerotic cardiovascular disease (ASCVD) and inflammation.
Novo Nordisk will acquire all outstanding shares of Corvidia Therapeutics for an upfront payment of $725 million US dollars in cash.
Total payments to Corvidia Therapeutics shareholders could ultimately amount to $2.1 billion US dollars in cash upon the achievement of certain regulatory and sales milestones by Novo Nordisk.
“We believe that ziltivekimab has the potential to become a first- and best-in-class treatment to lower the burden of cardiovascular disease in a patient population that is at high risk of major adverse cardiovascular events,” said Mads Krogsgaard Thomsen, Executive Vice President and Chief Science Officer of Novo Nordisk.