Novo Nordisk To Buy Corvidia Therapeutics For Up To $2.1B
11 Shares EmailFacebookTwitterLinkedInDanish pharmaceutical company Novo Nordisk is buying Massachusetts-based biotech company Corvidia Therapeutics, the companies announced this week. Novo Nordisk will pay $725 million upfront, and total payments could be up to $2.1 billion, so long as certain regulatory and sales milestones are reached. Corvidia’s previous financings include a $26 million Series A led by Soffinova Partners and Apple Tree Partners in February 2016, and a $60 million Series B led by Venrock in April 2018. The deal is notable for Novo Nordisk, considering it’s known for its focus on diabetes treatments. With the Corvidia acquisition, it seems the company is also looking to invest in cardio-rental disease therapy.