Novo Nordisk Buys Cardio-renal Group Corvidia

15.06.2020 -

Danish drugmaker Novo Nordisk has agreed to buy Corvidia Therapeutics, a privately held, US-based clinical-stage company focused on the research and development of transformative therapies for cardio-renal diseases, for $2.1 billion.

The acquisition gives Novo Nordisk access to Corvidia’s lead candidate, ziltivekimab, a fully human monoclonal antibody directed against Interleukin-6 (IL-6), which is being developed to cut the risk of major adverse cardiovascular events in chronic kidney disease (CKD) patients with atherosclerotic cardiovascular disease (ASCVD) and inflammation.

The therapy is currently being evaluated in a Phase 2b dose-finding clinical trial in patients who have an increased risk of ASCVD with CKD and inflammation.

“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, Novo Nordisk’s executive vice president and chief science officer.

Under the terms of the agreement, Novo Nordisk will acquire all outstanding shares of Corvidia Therapeutics for an upfront payment of $725 million in cash, which it will fund from its financial reserves. Further payments, which could ultimately reach $2.1 billion, will be made upon achieving certain regulatory and sales milestones.

“This acquisition recognizes the important scientific work Corvidia has been doing over the last five years in cardio-renal diseases with a focus on inflammation,” said Corvidia CEO Marc de Garidel Corvidia. “In Novo Nordisk, we have found a partner that has deep expertise in cardiometabolic disease, a proven track record of success in conducting cardiovascular outcomes trials (CVOT), and the infrastructure to accelerate the development of ziltivekimab in order to help patients who need it most.”

Spun out of AstraZeneca, Corvidia was a portfolio company of Sofinnova Partners. The French venture capital firm was Corvidia’s sole seed financial investor in 2015, since when it has remained its largest shareholder.