Chinook Therapeutics

History

2023: Novartis bought Chinook Therapeutics

On August 11, 2023, the multinational pharmaceutical corporation Novartis announced the acquisition of the American biotechnology company Chinook Therapeutics. The deal amounted to $3.5 billion.

Chinook Therapeutics is working on Zigakibart (BION-1301), an experimental injectable treatment for IgA nephropathy, a rare kidney disease. The named ailment is a disease of the glomerular apparatus of the kidney with mesangial IgA deposits, the main manifestation of which is recurrent hematuria. In addition, renal failure is often observed.

Novartis announces acquisition of Chinook Therapeutics

In the US, IgA nephropathy is estimated to affect up to 21 people per million per year, a rate higher among the Asian population. As noted by Novartis, the disease is the most common cause of renal failure in young Caucasians. The acquisition of the Zigakibart asset will help accelerate the launch of promising drugs on the commercial market.

An agreement between Novartis and Chinook Therapeutics was announced in June 2023. Under the terms of the contract, Chinook Therapeutics shareholders received $3.2 billion and the right to receive another $300 million, depending on certain successes of the company. The transaction is carried out entirely at the expense of funds.

We are pleased to complete this important merger and look forward to using our combined resources and expertise to further develop promising therapies for patients with rare and severe chronic kidney disease. We are expanding our range of renal drugs and continuing the path to rethinking medicine, "said Vas Narasimhan, MD, CEO of Novartis.[1]

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