Over one billion euros for the acquisition of Cardior
Novo Nordisk acquires the Hanover-based biotechnology company Cardior Pharmaceuticals. According to Novo Nordisk, this strengthens Product pipeline in the area 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 met.
According to Novo Nordisk, Cardior is a company that is a leader in the Research and development of therapies with RNA-based drugs 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.