Novo Nordisk A/S agreed to buy Cardior Pharmaceuticals for up to $1 billion ($1.1 billion) as the Danish maker of weight-loss drugs continues to expand into treatments for cardiovascular disease.
The maker of hit obesity drug Wegovy said Monday it will make an upfront payment for Cardior with additional payouts dependent on reaching certain milestones.
Cardior is developing therapies that target microRNA, a type of molecule that helps regulate how much of certain proteins are made inside a cell. The biotech’s leading potential treatment is designed to block abnormal levels of a particular microRNA, with the aim to improve the function of the heart in the long term. The compound is currently in the second of three stages of patient trials.
Soaring demand worldwide for Novo’s blockbusters Ozempic and Wegovy has turned the company into Europe’s most valuable business. The group is plowing part of its proceeds from the weight-loss frenzy into its portfolio of experimental drugs.
Its recent deals have been tilted toward cardiovascular disease, the most common cause of death globally: the cardior deal is the seventh time recently that Novo has said one of its acquisitions will explicitly target that area.
Wegovy recently gained expanded US approval to include reducing the risk for heart attacks and strokes, a move that could further widen use and insurer coverage of the popular anti-obesity medication. Cardiovascular disease aligns well with Novo’s history in diabetes and obesity, corporate development chief Dave Moore told investors earlier this month at the company’s capital markets day.