Novo Nordisk will acquire a clinical stage heart therapy from Dublin-based drug developer Prothena, in a push to expand beyond diabetes and further into cardiovascular disease.
In the deal, Novo will buy Prothena’s wholly-owned subsidiary and will gain full worldwide rights to the intellectual property and related rights of Prothena’s ATTR amyloidosis business and pipeline. Prothena is eligible to receive development and sales milestone payments totaling up to $1.2 billion including 100 million dollars in upfront and near-term clinical milestone payments.
PRX004 is a phase 2 ready anti-amyloid immunotherapy designed to deplete the amyloid deposits that are associated with the disease pathology of ATTR amyloidosis, a rare, under-diagnosed heart disease. Prothena's pipeline also includes drugs being developed to treat several neurodegenerative diseases including Alzheimer's disease and Parkinson's as well as disorders like AL amyloidosis.
The buy is part of Novo's strategy to diversify its core insulin portfolio that has been up against tough competition. Last year, the drugmaker agreed to buy AstraZeneca's spin-off, Corvidia Therapeutics, for $725 million to expand into cardiovascular disease treatments.
Read the press release