蹤獲弝け

Venture

Novo Nordisk To Buy Corvidia Therapeutics For Up To $2.1B

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Danish pharmaceutical company is buying Massachusetts-based biotech company the companies announced this week.

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The sale could ring in at up to $2.1 billion, according to a . Novo Nordisk will pay $725 million upfront, and total payments could be up to $2.1 billion, so long as certain regulatory and sales milestones are reached.

Corvidia focuses on researching and developing treatments for cardio-renal diseases. Its pipeline is focused on treating high triglyceride-induced acute pancreatitis and chronic kidney disease with atherosclerotic cardiovascular disease and inflammation, according to Corvidias website.

The company first received seed funding from Paris-based Sofinnova in 2015. Covidia is located in Waltham, Massachusetts.

Corvidias previous financings include a $26 million led by Soffinova Partners and in February 2016, and a $60 million led by in April 2018.

The deal is notable for Novo Nordisk, considering its known for its focus on diabetes treatments. Other main product areas for the company are obesity, haemophilia, growth disorders and hormone replacement therapy. With the Corvidia acquisition, it seems the company is also looking to invest in cardio-rental disease therapy.

Some of Novo Nordisks other acquisitions include and , according to 蹤獲弝け.

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