With $725M Corvidia takeout, Novo gets clinical atherosclerosis asset

Novo Nordisk’s deal to acquire Corvidia for $725 million up front gives the Danish pharma a Phase IIb atherosclerosis asset that expands its range in cardiometabolic diseases adjacent to its core business of treating diabetes and obesity. It also delivers an exit to an investor syndicate that has poured $86 million into the cardio-renal company since 2016.

With the takeout of the Boston-based biotech, Novo Nordisk A/S (CSE:NOVO B; NYSE:NVO) adds ziltivekimab, a mAb targeting IL-6 that is in the Phase IIb dose-finding RESCUE trial to reduce the risk of major cardiovascular adverse events in chronic kidney disease patients who have atherosclerotic CV disease (ASCVD) and inflammation. Data are due by year-end...