Novo Nordisk to acquire biotech company working on new heart failure drug for $1.1B
Novo Nordisk has agreed to acquire Cardior Pharmaceuticals, a German biotech company focused on discovering new heart disease therapies, for approximately $1.1 billion. This includes an upfront payment and additional payments that will be made if certain milestones are achieved.
Cardior’s business model focuses on discovering and developing new RNA-based medications for the prevention of cardiovascular disease. One of Novo Nordisk’s primary targets with this acquisition was CDR132L, a compound currently under development for the treatment of heart failure. It was designed to “halt and partially reverse cellular pathology” in a way that blocks abnormal levels of the molecule miR-132. Early research into CDR132L was published in European Heart Journal in 2020.[1]
“By welcoming Cardior as a part of Novo Nordisk, we will strengthen our pipeline of projects in cardiovascular disease where we already have ongoing programs across all phases of clinical development,” Martin Holst Lange, Novo Nordisk’s executive vice president for development, said in a prepared statement. “We have been impressed by the scientific work carried out by the Cardior team, especially on CDR132L, which has a distinctive mode of action and potential to become a first-in-class therapy designed to halt or partially reverse the course of disease for people living with heart failure.”
“This acquisition is a reflection of CDR132L’s transformative potential as a disease-modifying therapy for heart failure,” added Claudia Ulbrich, MD, CEO and co-founder of Cardior, in the same statement. “Novo Nordisk is the ideal partner based on its deep clinical and commercial expertise combined with its resources to accelerate our late-stage development program, including through larger registrational studies. We look forward to advancing CDR132L towards market approval.”
Novo Nordisk has said it will fund this deal with money from its financial reserves. The acquisition is expected to close in the second quarter of 2024.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.