Novartis to expand renal pipeline with agreement to acquire Chinook Therapeutics
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Key takeaways:
- Chinook has two late-stage medicines in development to treat immunoglobulin A nephropathy.
- The deal is expected to close in the second half of 2023.
Novartis announced that the company has agreed to acquire Chinook Therapeutics to expand its renal pipeline, according to a company press release.
“We are excited by this unique opportunity to address one of society’s most challenging health care issues, with the potential to bring additional much-needed treatment options to patients,” Vas Narasimhan, MD, CEO of Novartis, said in the release. “We look forward to closing the deal, to a smooth transition for Chinook employees and to welcoming them to Novartis.”
Chinook has two late-stage medicines in development to treat immunoglobulin A nephropathy (IgAN). Atrasentan, an oral endothelin A receptor antagonist shown to reduce proteinuria, is in phase 3 development with pivotal readout expected in the fourth quarter of 2023. A phase 3 trial for zigakibart for IgAN, a subcutaneously administered anti-APRIL monoclonal antibody, is expected to start in the third quarter of 2023.
Novartis will acquire Chinook for a total value of up to $3.5 billion as part of the unanimously approved deal by both company boards. The transaction will be in the form of a merger between Chinook and a new Novartis subsidiary. The deal is expected to close in the second half of 2023, according to the release.
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