Novartis Announces the Acquisition of Sanreno Therapeutics in a Significant Transaction Aimed at Advancing Innovative Treatments for Kidney Disease
Saturday, January 06, 2024
SanReno Therapeutics, a clinical-stage company dedicated to the discovery, development, and commercialization of innovative therapies for kidney diseases, has been acquired by Novartis, a global pharmaceutical company. Following the completion of the acquisition, SanReno now operates as an indirect, wholly-owned subsidiary of Novartis. The initial investors of SanReno, which include Pivotal bioVenture Partners China, Frazier Life Sciences, Samsara BioCapital, and Versant Ventures, have divested their equity securities in SanReno.
Established in late 2021 through a joint venture between the investor consortium and Chinook Therapeutics (now part of Novartis), SanReno holds exclusive rights in Greater China and Singapore for two late-stage assets targeting Immunoglobulin A Nephropathy (IgAN): atrasentan and zigakibart. Atrasentan, an oral endothelin A receptor antagonist (ERA), is currently in Phase 3 development for IgAN and has demonstrated significant proteinuria reduction, meeting the primary endpoint of its Phase 3 study. Zigakibart (BION-1301), a subcutaneously administered monoclonal antibody targeting APRIL (A Proliferation Inducing Ligand), received approval from China CDE to enter Phase 3 studies in October 2023.
This acquisition, completed within the first two years of SanReno's establishment, is a notable transaction where a Chinese biotech company has been acquired by a multinational pharmaceutical company. The move underscores the substantial market potential in China within the global renal market and aligns with Novartis' commitment to pioneering innovative therapies for kidney diseases.
Haoyu Huang, Chief Executive Officer of SanReno Therapeutics, expressed enthusiasm about the acquisition, stating, "The acquisition of SanReno by Novartis is a testament to the unwavering dedication and relentless innovation of the SanReno team. It validates our commitment to pushing the boundaries in kidney disease therapeutics. We are thrilled to join forces with Novartis, a global pharmaceutical leader, in our shared mission to bring forth potentially transformative medicines for patients battling kidney diseases in China and beyond. Today marks an exciting new chapter in our journey to making a meaningful impact in the field of renal health."
Atrasentan and Zigakibart are at the forefront of SanReno's innovative portfolio, targeting Immunoglobulin A Nephropathy (IgAN) with a focused clinical approach. Atrasentan, an oral endothelin A receptor antagonist (ERA), is progressing through Phase 3 development for IgAN and has successfully achieved the primary endpoint of proteinuria reduction. Additionally, Zigakibart (BION-1301), a subcutaneously administered anti-APRIL monoclonal antibody, has received regulatory approval from China CDE to initiate Phase 3 studies.
Source: prnasia.com
