It's all about the heart: Di­a­betes ma­jor No­vo Nordisk bets $725M up­front to buy car­dio-fo­cused As­traZeneca spin­off

No­vo Nordisk’s itch to ex­pand its reach be­yond its main­stay di­a­betes busi­ness has man­i­fest­ed in the com­pa­ny test­ing some of its ex­ist­ing treat­ments for use in co-mor­bidi­ties such as obe­si­ty, NASH and heart dis­ease. Now, the Dan­ish drug­mak­er is fork­ing over $725 mil­lion in cash up­front to swal­low an As­traZeneca spin­out fo­cused on the car­dio field.

Cre­at­ed in 2015, the com­pa­ny Cor­vidia was co-found­ed by Michael David­son, the for­mer chief med­ical of­fi­cer of New Jer­sey-based Omthera (a com­pa­ny sold to As­traZeneca for $443 mil­lion back in 2013) and Sofinno­va Part­ners, the Eu­ro­pean life sci­ences ven­ture cap­i­tal firm that al­so served as the lead in­vestor in Omthera.

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