AstraZeneca and Fresenius Medical Care will exit the kidney disease treatment developer in a $725m acquisition that could potentially rise to $2.1bn.
Pharmaceutical firm Novo agreed yesterday to purchase US-based genomics therapy developer Corvidia Therapeutics for up to $2.1bn, enabling pharmaceutical firm AstraZeneca and kidney dialysis equipment producer Fresenius Medical Care to exit.
The deal will involve a $725m cash payment upfront but could potentially top out at $2.1bn if every regulatory and sales milestone is achieved post-acquisition. The company had raised more than $86m in funding.
Founded in 2015, Corvidia is working on cardio-renal disease treatments and its lead product candidate…
