Novo Nordisk acquires Inversago Pharma for up to $1B+ while reporting megablockbuster Wegovy sales
On the back of reporting megablockbuster sales of Wegovy, Novo Nordisk has snapped up Inversago Pharma to the value of up to $1.075 billion in a deal that will see the company further lean into its weight loss domain.
Novo Nordisk revealed the buyout during its second quarter results call with the media, noting the acquisition “supports its aspiration within obesity and other metabolic disorders.” It didn’t break down the upfront and milestones.
Per the biotech’s website, Inversago has three assets in its pipeline targeting cannabinoid receptors, with its lead candidate INV-202 under investigation in diabetic kidney disease and metabolic syndrome. INV-202 is an oral peripheral cannabinoid receptor type 1 (CB1) receptor blocker.
In June this year, Inversago revealed Phase Ib data that showed clinically significant weight loss at 28 days. In December 2022, it recruited its first patient in a Phase II trial in diabetic kidney disease.
The Montreal, Canada biotech has two other assets in the preclinical stage: INV-300, a series of drugs under consideration in multiple indications, and INV-101 in idiopathic pulmonary fibrosis. Its candidates are based on the work by George Kunos at the National
Institute of Health.
While earlier attempts at centrally blocking cannabinoid receptors triggered safety concerns, Inversago hopes to sidestep those issues by preferentially targeting receptors in the peripheral tissue. The biotech started its drug development journey with a modest $35 million in 2020 from transatlantic investors.
Novo Nordisk acquires
