On Monday local time, Danish pharmaceutical giant Novo Nordisk announced that it will acquire Cardio Pharmaceuticals for 1.03 billion euros, and the two companies have reached a related acquisition agreement. At present, Novo Nordisk is expanding beyond the market of diabetes and weight loss, and accelerating the layout of its product lines for cardiovascular diseases.
In recent years, Novo Nordisk has achieved great success because of its star weight loss drugs and diabetes treatment drugs (Ozempic and Wegovy). These drugs are not only very effective in regulating blood sugar and helping patients lose weight, but also produce additional health benefits, such as reducing the risk of stroke and heart disease, and slowing down the progress of kidney disease.
Based on these findings, Novo Nordisk announced this month that the company will invest significant resources in the field of cardiovascular disease to establish a competitive track.
David Moore, Executive Vice President of Enterprise Development at Novo Nordisk, stated that the company will seek to fully develop its first independent cardiovascular disease drug, Ziltivekimab. It is reported that the drug is in the phase III research and development stage and is used to treat atherosclerotic cardiovascular disease (ASCVD) and chronic kidney disease (CKD).
Novo Nordisk issued a statement on Monday stating, "The acquisition of Cardior is an important step for Novo Nordisk to expand its business scope and influence in the field of cardiovascular disease."
Cardior is a German biopharmaceutical company founded in 2016, focusing on the development of non coding RNA (ncRNA) based heart failure treatments and preventive drugs. NcRNAs include microRNAs and lncRNAs, which regulate signaling pathways within molecular cells, leading to myocardial remodeling and heart failure.
It is reported that the lead compound CDR132L of Cardior can improve heart function, prevent and partially reverse the disease progression of heart failure patients, and is currently in the phase II clinical development stage for treating heart failure. Novo Nordisk plans to launch follow-up experiments after the acquisition.
The transaction is expected to be completed in the second quarter of 2024. This funding will come from financial reserves, so it will not affect Novo Nordisk's profit guidance for 2024 or ongoing stock repurchases.
Martin Holst Lange, Executive Vice President of Development at Novo Nordisk, said, "The scientific work carried out by the Cardior team has left a deep impression on us, especially the CDR132L, which has a unique mode of action and may become a first-class treatment for cardiovascular disease, preventing or partially reversing the disease progression of heart failure patients."
Dr. Claudia Ulbrich, CEO and co-founder of Cardior, said, "This acquisition reflects the transformative potential of CDR132L as a treatment for cardiovascular disease. With its profound clinical and business knowledge, as well as its resources, Novo Nordisk can accelerate our later development plans, including through larger scale registration research, making it an ideal partner. We look forward to CDR132L's early market approval."