Novartis to acquire Chinook Therapeutics and with it atrasentan and zigakibart.
Novartis announced that it has entered into an agreement to acquire Chinook Therapeutics, a Seattle, WA, based clinical stage biopharmaceutical company with two high-value, late-stage medicines in development for rare, severe chronic kidney diseases
The agreed deal, which is subject to customary closing conditions, is fully in line with Novartis strategy to focus on innovative medicines and will significantly expand its renal portfolio, complementing the existing pipeline. Chinook’s pipeline includes two late-stage assets in clinical development to treat Immunoglobulin A Nephropathy (IgAN), a progressive, rare kidney disease that mostly affects young adults and currently lacks targeted treatment options. As many as 3 in 10 patients progress to kidney failure and dialysis within 10 years. Atrasentan, an oral endothelin A receptor antagonist (ERA), currently in Phase III development for IgAN with pivotal readout expected in Q4 2023, has shown significant reductions in proteinuria. Atrasentan is also in early-stage development for other rare kidney diseases. Zigakibart (BION-1301) is a subcutaneously administered anti-APRIL monoclonal antibody; a Phase III trial in IgAN is expected to start in Q3 2023. Chinook has deep expertise in modeling and understanding kidney disease and a promising early pipeline to address a number of severe renal conditions. Under the agreed deal, which has been unanimously approved by the Boards of both companies, Novartis will acquire Chinook for a total value of up to USD 3.5bn with the transaction being in the form of a merger of Chinook and a newly formed Novartis subsidiary.
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