Novo Nordisk, which operates its U.S. headquarters out of Plainsboro, on Thursday announced it will acquire Canadian company Inversago Pharma in a $1.07 billion deal including the development of an obesity drug.
Inversago is a privately owned company that develops therapies pitched at people with obesity, diabetes and metabolic disorders.
The acquisition of Inversago includes the company’s lead development asset, INV-202, a cannabinoid receptor blocker, which has shown weight loss in a phase 1b trial and is now in phase 2 development.
The Wegovy drugmaker said it expects the acquisition to be completed in 2023, provided that unspecified development and commercial milestones are met.
“The acquisition of Inversago Pharma will further strengthen our clinical development pipeline in obesity and related disorders,” Martin Holst Lange, executive vice president for development at Novo Nordisk, said. “This promising class of medicine pioneered by the Inversago team could lead to life-changing new treatment options for those living with a serious chronic disease and, in particular, may offer alternative or complementary solutions for people living with obesity.”
“We are delighted to join forces with a global leader in the obesity and metabolic disorder space,” François Ravenelle, CEO of Inversago Pharma, said. “We believe this combination will help unlock the full medical potential of our CB1 blockers and may one day expand treatment options for people living with metabolic syndrome, obesity and related complications. Novo Nordisk has world-class research facilities, significant global reach and a rich culture of collaboration seeking to bring our therapeutic treatments to market.”
Inversago employs 22 people, who will continue to focus on the successful completion of the ongoing and planned trials, while working closely with Novo Nordisk to drive Inversago’s technology forward in future clinical trials.