Fund+ portfolio company Cardior Pharmaceuticals to be acquired by Novo Nordisk in potential 1-billion-euro deal

Share this article

Novo Nordisk will acquire Cardior Pharmaceuticals for up to 1.025 billion euros, including upfront and additional payments if certain development and commercial milestones are achieved. Cardior is a leader in RNA-based therapies that have the potential to prevent, repair and reverse diseases of the heart. The company’s approach targets distinctive non-coding RNAs to address the root causes of cardiac dysfunctions and achieve lasting patient impact.

Cardior is a portfolio company of Fund+, a Belgian Venture Capital fund for long-term equity investment in innovative life sciences companies in Europe. Fund+ invested in Cardior’s Series B round in 2021, to bring the company’s main asset CDR132L into phase 2 clinical trials. Cardior perfectly exemplifies Fund+’s strategy of investing in therapeutics which address important unmet medical needs: heart failure currently affects more than 65 million people globally and though current therapies can slow disease progression, morbidity and mortality remain high.

Halina Novak, Principal at Fund+ and Board member of Cardior commented: “The acquisition of our portfolio company Cardior by Novo Nordisk for up to a billion euros is confirmation of the enormous potential this company’s RNA technology has in treating cardiovascular diseases. Social impact is important for Fund+, so we are thrilled to have contributed to the success of a promising European company en route to making a real difference in patient lives. It has been a privilege to work alongside the talented Cardior management team and the other investors – we will be watching future developments with great excitement.”

Cardior’s lead compound CDR132L is currently in phase 2 clinical development for the treatment of heart failure after myocardial infarction (commonly known as a heart attack). Novo Nordisk also plans to initiate a second phase 2 trial that will investigate CDR132L in a chronic heart failure population with cardiac hypertrophy – a condition that causes the walls of the heart muscle to become thick and stiff, affecting the heart’s ability to pump blood. “This acquisition is a reflection of CDR132L’s transformative potential as a disease-modifying therapy for heart failure,” said Claudia Ulbrich, MD, CEO and co-founder of Cardior.

Find out more in the full press release: