Novo Nordisk Reach $1.1 Billion Acquisition Deal With Cardior Pharmaceuticals

Denmark-based Novo Nordisk has reached an agreement to acquire Cardior Pharmaceuticals for 1.025 billion Euros ($1.1 billion). The deal includes an upfront payment and additional payments if Cardior hits predetermined commercial and development milestones. The acquisition is in line with Novo’s plan to strengthen its cardiovascular pipeline and expand its focus on diabetes and weight loss therapies to include cardiovascular disease treatments.

Cardior is an industry leader in the discovery and development of therapies that target RNA to prevent, repair, and reverse heart diseases. The company makes use of a distinctive approach that targets non-coding RNAs as a means of addressing the underlying causes of cardiac dysfunctions and achieving lasting patient impact. 

“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,” Novo said in a statement.

The deal will include Cardior’s lead compound CDR132L which is currently in phase 2 clinical development for the treatment of heart failure. CDR132L is based on initial collaborative research between Medical School Hannover (MHH) and the Max Planck Institute for Biophysical Chemistry in Gottingen (now known as Max Planck Institute for Multidisciplinary Sciences).

CDR132L has a distinctive mode of action

Unlike other available therapies for heart diseases, CDR132L has the potential of being a first-in-class therapy that will either halt or partially reverse disease progression for those living with heart failure. The compound is designed to halt or partially reverse cellular pathology through selective blocking of abnormal levels of the microRNA molecule miR-132 which will potentially lead to lasting improvement in heart function.

The result of the Phase 1b trial published in the European Heart Journal showed that CDR132L was safe and well tolerated. Also, the result suggested an improvement in cardiac function in people living with heart failure when compared to a placebo. It is currently undergoing Phase 2 trial HF-REVERT in 280 people with heart failure with reduced ejection fraction (HFrEF) who previously suffered a heart attack. The first of the trial patients was dosed in the HF-REVERT trial back in July 2022.

“CDR132L has transformative potential as a disease-modifying therapy for heart failure and Novo Nordisk´s agreement to acquire Cardior is a testament to the technology we have built since inception,” said Prof. Dr. Dr. Thomas Thum, CSO, CMO, and co-founder of Cardior.

Prof. Thum added, “In Novo Nordisk, we have found the ideal partner with a broad clinical and commercial expertise and a growing cardiovascular disease portfolio that will enable us to further accelerate our late-stage development program through larger registrational studies and towards market approval.” 

Cardior Pharmaceuticals acquisition to be this year

The acquisition is expected to be completed in the second quarter of 2024, subject to receipt of applicable regulatory approvals and other customary conditions. Novo said it would fund the transaction from its financial reserves and that it would not impact its 2024 operating profit guidance.

“This acquisition underscores the pivotal role of solid basic research in the life sciences, providing a robust framework for transforming innovative concepts into tangible therapy concepts,” said Dr. Florian Kirschenhofer, Senior Start-up & Portfolio Manager at Max Planck Innovation, the technology transfer organization of the Max Planck Society. “In an arena where time and resources are critical, robust scientific findings significantly mitigate risks. We are delighted by the prospect that further research will bring significant benefits to heart patients worldwide”,