Danish pharma company Novo Nordisk has agreed to acquire Prothena’s clinical stage antibody PRX004 and broader ATTR amyloidosis programme for a deal valued at $1.2bn.
Under the terms of the definitive purchase agreement signed by the companies, Novo Nordisk will gain full worldwide rights to the intellectual property as well as the related rights of Prothena’s ATTR amyloidosis business and pipeline.
As per the deal, Prothena will also receive upfront and near-term clinical milestone payments of up to $100m in upfront and near-term clinical milestone payments for Phase II-ready anti-amyloid immunotherapy PRX004.
The antibody, PRX-004, is designed to deplete amyloid, which is associated with the disease pathology of ATTR amyloidosis.
ATTR amyloidosis is a rare disease, which is identified by abnormally high amyloid deposits made up of transthyretin proteins that are misfolded in organs and tissue, most commonly the heart and/or nervous system.
A Phase I study of PRX004 in patients with hereditary forms of ATTR has already been completed. In this trial, the antibody was found to be safe and well tolerated.
Initially, Novo will focus on the clinical development of Prothena’s antibody in ATTR cardiomyopathy, which is an underdiagnosed and potentially fatal form of ATTR amyloidosis.
Novo Nordisk Research and Early Development executive vice president and chief scientific officer Marcus Schindler said: “With its innovative amyloid-depleting mechanism, PRX004 has the potential to offer a novel treatment option for ATTR cardiomyopathy – an often fatal disease with significant unmet medical need.
“This acquisition is a testament to Prothena’s pioneering work in ATTR amyloidosis and Novo Nordisk’s dedication to advancing new disease-modifying therapies for the benefit of people with cardiovascular diseases which are the world’s leading cause of death.”