M&A Deal Summary

Novartis Acquires Chinook Therapeutics

On June 12, 2023, Novartis acquired life science company Chinook Therapeutics for 3.2B USD

Acquisition Highlights
  • This is Novartis’ 23rd transaction in the Life Science sector.
  • This is Novartis’ 3rd largest (disclosed) transaction.
  • This is Novartis’ 22nd transaction in the United States.
  • This is Novartis’ 1st transaction in Washington.

M&A Deal Summary
Date 2023-06-12
Target Chinook Therapeutics
Sector Life Science
Buyer(s) Novartis
Deal Type Add-on Acquisition
Deal Value 3.2B USD
Advisor(s) Centerview Partners
MTS Health Partners LP (Financial)
Fenwick & West (Legal)

Target

Chinook Therapeutics

Seattle, Washington, United States
Chinook Therapeutics is a clinical-stage biotechnology company developing precision medicines for kidney diseases. The company’s products are focused on rare, severe chronic kidney disorders with opportunities for well-defined and streamlined clinical pathways. Chinook Therapeutics is based in Seattle, Washington.

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Buyer(S) 1

Buyer

Novartis

Basel, Switzerland
Category Company
Founded 1996
Sector Life Science
Employees104,323
Revenue 46.7B USD (2023)
DESCRIPTION
Novartis' corporate campus in Basel, Switzerland.
Novartis' corporate campus in Basel, Switzerland.

Novartis is a global healthcare and pharmaceutical enterprise dedicated to advancing medical innovation and enhancing patient well-being. Renowned for its pioneering research and development efforts, Novartis has a comprehensive portfolio encompassing groundbreaking pharmaceuticals, generic medications, biosimilars, and eye care solutions. Novartis was founded in 1996 and is based in Basel, Switzerland.

DEAL STATS #
Overall 28 of 32
Sector (Life Science) 23 of 26
Type (Add-on Acquisition) 24 of 28
State (Washington) 1 of 1
Country (United States) 22 of 24
Year (2023) 1 of 2
Size (of disclosed) 3 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-22 Gyroscope Therapeutics

London, United Kingdom

Gyroscope Therapeutics is a clinical-stage retinal gene therapy company developing gene therapy beyond rare diseases to treat a leading cause of blindness, dry age-related macular degeneration (AMD). The company's lead investigational gene therapy, GT005, is a one-time therapy delivered under the retina. GT005 is designed to restore balance to an overactive complement system by increasing the production of the Complement Factor I protein. GT005 is currently being evaluated in a Phase I/II clinical trial called FOCUS and Phase II clinical trials called EXPLORE and HORIZON. Gyroscope Therapeutics was formed in 2016 and is based in London.

Buy $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-30 Xiidra

Basel, Switzerland

XIIDRA (lifitegrast ophthalmic solution) 5% is a prescription eye drop used to treat the signs and symptoms of dry eye disease. Xiidra is based in Basel, Switzerland.

Sell -
Mergr

Product

Company

Legal