Novo Nordisk expands in cardiovascular disease with buy of Corvidia
In its first full acquisition in the last couple of years, Danish diabetes care giant Novo Nordisk (NOV: N) today announced that it has entered into a definitive agreement to buy Corvidia Therapeutics, a privately held, clinical stage company focused on the research and development of transformative therapies for cardio-renal diseases.
Corvidia’s lead candidate, ziltivekimab, a fully human monoclonal antibody directed against Interleukin-6 (IL-6), is being developed to reduce the risk of major adverse cardiovascular events in chronic kidney disease (CKD) patients with atherosclerotic cardiovascular disease (ASCVD) and inflammation.
Formed in 2016, Corvidia, headquartered in Waltham, Massachusetts, is an AstraZeneca spin-off that is focused on the research, development and commercialization of transformative therapies for cardio-renal diseases. Sofinnova Partners was Corvidia’s sole seed financial investor in 2015 and it has remained the largest shareholder throughout the company’s evolution.
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