Novo Nordisk to Acquire Cardior Pharmaceuticals
Novo Nordisk is to acquire Cardior Pharmaceuticals for up to €1.025 billion Euros, including an upfront payment and additional payments if certain development and commercial milestones are achieved.
Hanover, Germany-based Cardior specializes in the discovery and development of therapies that target distinctive non-coding RNAs to prevent, repair and reverse heart disease. The company’s lead compound CDR132L is currently in Phase 2 clinical development for the treatment of heart failure. Novo Nordisk plans to initiate a second Phase 2 trial that will investigate CDR132L in a chronic heart failure population with cardiac hypertrophy.
The acquisition, Novo Nordisk said, is an important step forward in its strategy to establish a presence in cardiovascular disease.
“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,” said Martin Holst Lange, executive vice president for Development at Novo Nordisk. “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.”
Claudia Ulbrich, CEO and co-founder of Cardior, added: “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.”
The acquisition, which is subject to receipt of applicable regulatory approvals and other customary conditions, is expected to close in the second quarter of 2024.
