Skye acquires Bird Rock Bio, weeks after Novo Nordisk says it will buy a CB1 developer
Skye Bioscience acquired Bird Rock Bio to get its hands on an asset targeting CB1 just two weeks after Novo Nordisk dipped its toes into the once-hot space to buy Inversago Pharma, another developer of CB1 therapies.
The San Diego biotech said Monday morning it acquired Bird Rock’s outstanding stock for total consideration of about $20 million. Bird Rock, a Versant Ventures- and 5AM-backed startup, had said little in the three years since announcing a Phase II IND application for its CB1 antibody nimacimab for various renal diseases.
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