Corvidia is involved in the research, development and commercialisation of advanced therapies for cardio-renal diseases

NovoNor

Novo Nordisk Danish headquarters in Bagsværd. (Credit: Novo Nordisk A/S)

Novo Nordisk has agreed to acquire US-based biotechnology company Corvidia Therapeutics from Sofinnova Partners in a deal valued at around $2.1bn.

The deal includes an upfront payment of $725m, and the remaining amount will be paid based on the achievement of certain regulatory and sales milestones by Novo Nordisk.

Corvidia, an AstraZeneca spin-off, is a clinical-stage firm engaged in the research, development and commercialisation of advanced therapies for cardio-renal diseases.

Ziltivekimab is a fully human monoclonal antibody directed against Interleukin-6

Ziltivekimab, the Corvidia’s lead candidate, is a fully human monoclonal antibody directed against Interleukin-6 (IL-6). It is being developed to minimise the risk of major adverse cardiovascular events in chronic kidney disease (CKD) patients with atherosclerotic cardiovascular disease (ASCVD) and inflammation.

Novo Nordisk chief science officer and executive vice president Mads Krogsgaard Thomsen said: “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.”

At present, ziltivekimab is being assessed in a phase 2b dose-finding clinical trial in patients who have an increased risk of ASCVD with CKD and inflammation.

The acquisition of Corvidia will allow Novo Nordisk to expand its presence across a range of cardiometabolic diseases, which are associated to the company’s core business within diabetes and obesity.

The deal is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary conditions.

Corvidia Therapeutics CEO Marc de Garidel said: “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.”

In February, Novo Nordisk unveiled its plans to invest DKK 800m ($117m) to upgrade and expand its facilities at its production site in Kalundborg, Denmark.