Novo Nordisk to Acquire Cardior Pharmaceuticals for €1 Bn+

This move seeks to strengthen Novo Nordisk’s pipeline of projects in cardiovascular disease.

The Danish pharmaceutical major, Novo Nordisk has agreed to acquire Cardior for up to 1.025 billion euros, including an upfront payment and additional payments if certain development and commercial milestones are achieved.

This move seeks to strengthen Novo Nordisk’s pipeline of projects in cardiovascular disease.

Reportedly, the acquisition deal includes Cardior’s lead compound CDR132L, currently in phase II clinical development for the treatment of heart failure.

Sharing thoughts, Martin Holst Lange, executive VP for development, Novo Nordisk, said, “We have been impressed by the scientific work carried out by the Cardior team, especially on CDR132L, which has a distinctive mode of action and potential to become a first-in-class therapy designed to halt or partially reverse the course of disease for people living with heart failure.”

Cardior’s Leading Therapeutic Compound

Cardior Pharmaceutical’s leading product - CDR132L is designed to halt and partially reverse cellular pathology by selectively blocking abnormal levels of the microRNA molecule miR-132, potentially leading to long-lasting improvement in heart function.

In a phase I-b trial published in the European Heart Journal, CDR132L was found safe and well tolerated, with indications of improved cardiac function in heart failure patients compared to placebo.

Currently, CDR132L is undergoing phase II trial HF-REVERT with 280 participants who have heart failure with reduced ejection fraction (HFrEF) post-heart attack. The first patient was dosed in the HF-REVERT trial in July 2022.

Moreover, Novo Nordisk plans a second phase II trial to assess CDR132L in chronic heart failure patients with cardiac hypertrophy, characterized by thickened and stiffened heart muscle walls, impacting blood pumping capacity.

Claudia Ulbrich, MD, CEO & cofounder, Cardior said, “This acquisition is a reflection of CDR132L’s transformative potential as a disease-modifying therapy for heart failure. Novo Nordisk is the ideal partner based on its deep clinical and commercial expertise combined with its resources to accelerate our late-stage development program, including through larger registrational studies. ”

The closing of the acquisition is subject to receipt of applicable regulatory approvals and other customary conditions and is expected to happen in the second quarter of 2024.

Further, the transaction is expected not to affect Novo Nordisk’s previously communicated operating profit outlook for 2024 or the ongoing share buy-back program. The Danish Pharma will fund the acquisition from financial reserves.

Founded in 2016, Cardior Pharmaceuticals is a clinical-stage biopharmaceutical company based in Hanover, Germany.

Cardior Pharmaceuticals is pioneering the discovery and development of RNA-based therapeutics designed to prevent, repair, and reverse diseases of the heart. It aspires to bring transformative therapeutics and diagnostics to patients, thereby making a lasting impact on the treatment of cardiac diseases worldwide.

The Denmark-based pharmaceutical, on the other hand, was formed through a merger of two Danish companies Nordisk Insulinlaboratorium and Novo Terapeutisk Laboratorium, which date back to the 1920s.

Currently, the company employs more than 48,000 people globally and markets its products in 168 countries. It aims to drive change to defeat diabetes and other serious chronic diseases.

Days back, Novo Nordisk joined the race to bid for Healthium Medtech, India's largest surgical sutures manufacturer. In October, the Denmark-based pharmaceutical player agreed to buy ocedurenone, from KBP Biosciences for up to $1.3 billion.