Novo Nordisk to Acquire EQT Life Sciences Portfolio Company Cardior Pharmaceuticals

Novo Nordisk has entered into an agreement to acquire Cardior Pharmaceuticals, a company focused on developing RNA-targeted therapies for cardiovascular diseases. The acquisition, announced by EQT Life Sciences, values Cardior at up to EUR 1.025 billion, including an upfront payment and potential milestone-based payments.

Cardior, based in Hannover, Germany, specializes in therapies designed to prevent, repair, and reverse heart diseases, with an initial focus on heart failure. The company utilizes a novel approach targeting non-coding RNAs to address the underlying causes of cardiac dysfunction. Its lead drug candidate, CDR132L, is currently in Phase 2 clinical trials.

EQT Life Sciences has been a significant investor in Cardior since 2017, leading its Series A financing and participating in subsequent rounds. EQT highlighted Novo Nordisk's clinical and commercial expertise as beneficial for accelerating Cardior's late-stage development programs.

The transaction is subject to regulatory approvals and customary closing conditions, with an expected completion in the second quarter of 2024. This acquisition aims to strengthen Novo Nordisk's pipeline in cardiovascular disease treatment.