Deals, M&A

Novo Nordisk grabs a $486M buyout option on an anti-apoC3 antibody for its cardio R&D group

A couple of months after restructuring its R&D operations, Novo Nordisk has whipped up a $486 option deal to buy out Staten Biotechnology — if their lead drug comes through in clinical trials. 

The main attraction at the Netherlands-based Staten is an anti-apoC3 antibody — dubbed  STT-5058 — which has a shot at reducing triglycerides and remnant lipoproteins, well known targets in the high-risk cardio field.

The Danish biotech $NVO has divvied up its R&D group into 4 key operations, with their team in Oxford charged with taking the lead on cardio-metabolics. Novo will now lend assistance and R&D support to help push that development program along as it considers whether to follow up on the buyout option.

Marcus Schindler, Novo’s discovery chief, had this to say in a prepared statement:

Our partnership with Staten Biotechnology is a key step in executing our strategic priority to expand into cardiovascular diseases. Hypertriglyceridemia is a serious risk factor for cardiovascular disease, in particular often present in people with diabetes and obesity. Staten Biotechnology has developed STT-5058, a new promising concept validated by human genetics, for the treatment of hypertriglyceridemia. Combining Staten’s know-how on STT-5058, the scientific excellence of the company’s executive team and founders, with Novo Nordisk experience in drug development and commercialization, the project holds potential to make a real difference for people suffering from cardiovascular disease.

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