Novo Nordisk acquires Cardior Pharmaceuticals

Novo Nordisk will acquire Cardior Pharmaceuticals for up to €1.025 billion, including an upfront payment and additional payments upon achievement of certain development and commercial milestones.

Headquartered in Hannover, Germany, Cardior is focused on discovering and developing therapies targeting unique 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 investigating CDR132L in people with chronic heart failure who have cardiac hypertrophy.

Novo Nordisk said the acquisition is an important step in its strategy to build a business in cardiovascular diseases.

Martin Holst Lange, Novo Nordisk's executive vice president of development, said: "Welcome Cardior as part of Novo Nordisk. We will strengthen our program pipeline in the cardiovascular disease area, where we already have ongoing programs in various stages of clinical development. We are impressed by the scientific work conducted by the Cardior team, particularly CDR132L, which has a unique mode of action and has the potential to become a first-in-class therapy designed to halt or partially reverse the course of the disease in people living with heart failure."

Claudia Ulbrich, CEO and co-founder of Cardior, added: "Novo Nordisk is an ideal partner because of its deep clinical and commercial expertise and the resources to accelerate our late-stage development program, including through larger registration studies. We look forward to advancing CDR132L towards market approval."

The acquisition, which is subject to applicable regulatory approvals and other customary conditions, is expected to close in the second quarter of 2024.