Novo Nordisk acquires SCD drug developer Forma Therapeutics
Novo Nordisk acquisition of Forma Therapeutics : Danish pharma company Novo Nordisk has closed the previously announced $1.1 billion acquisition of Forma Therapeutics, a clinical-stage biopharma company focused on developing drugs for the treatment of sickle cell disease (SCD) and rare blood disorders.
As per the terms of the deal announced last month, shareholders of the NASDAQ-listed Forma Therapeutics were offered $20 per share in cash by Novo Nordisk.
Following the completion of the deal, Forma Therapeutics is now a fully-owned subsidiary of the Danish pharma company and will be delisted from the Nasdaq Global Select Market.
Novo Nordisk acquires SCD drug developer Forma Therapeutics. Photo courtesy of Novo Nordisk A/S.
Forma Therapeutics’ lead development candidate is etavopivat, an oral, daily-once selective pyruvate kinase-R (PKR) activator. Etavopivat is being developed for improving the levels of anemia and red blood cell health in patients having sickle cell disease.
At the time of announcing the deal, Novo Nordisk said that the acquisition of Forma Therapeutics is in line with its strategy to complement and expedite its scientific footprint and pipeline in hemoglobinopathies.