Over one billion euros for the acquisition of Cardior
Novo Nordisk is acquiring the Hanover-based biotechnology company Cardior Pharmaceuticals. According to Novo Nordisk, this strengthens its product pipeline in the field of cardiovascular diseases.
As the two companies announced on Monday, an agreement to this effect has been reached. According to the agreement, the purchase price will be up to 1.025 billion euros. According to the press release, this sum includes an upfront payment and further payments if certain targets are achieved.
According to Novo Nordisk, Cardior is a company that is a leader in the research and development of RNA-based therapies for the treatment of heart disease. As part of the transaction, Novo Nordisk will also acquire Cardior's lead product, CDR1321.
According to the press release, this drug is currently undergoing phase 2 clinical trials and may one day be used to treat heart failure.
As Novo Nordisk explains in its press release, the company wants to build up a therapy portfolio for cardiovascular diseases through its own and acquired innovations. According to the Danish pharmaceutical manufacturer, these diseases are the most common cause of death worldwide.
The transaction is still subject to regulatory approvals. The two companies expect the acquisition to be completed in the second quarter of 2024.