Novartis (NYSE: NVS), a Swiss pharmaceutical giant, has announced plans to acquire the remaining shares in SanReno Therapeutics, a Shanghai-based developer of kidney drugs. This move is aimed at bolstering Novartis’s kidney product portfolio in China. The financial details of the transaction have not been disclosed.
SanReno Therapeutics was established in 2021 as a joint venture between Seattle-based Chinook Therapeutics, formerly listed on Nasdaq as KDNY, and several life science investors. Following Novartis’s acquisition of Chinook for USD 3.2 billion in August last year, Novartis took control of Chinook’s equity stake in SanReno.
SanReno’s pipeline includes two drug candidates at the global Phase III stage: atrasentan, a selective endothelin receptor (ETA) antagonist, and zigakabart (BION-1301), a monoclonal antibody (mAb) that blocks a proliferation-inducing ligand (APRIL). Both candidates are being developed to treat IgA nephropathy. SanReno holds the rights to develop, manufacture, and commercialize these products in Greater China and Singapore.- Flcube.com
