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SanReno Therapeutics–Novartis: investment, 202401 acquisition remaining shares by Novartis to become wholly-owend subsidiary

	Period	2024-01-05
	Predecessor	Chinook Therapeutics–Novartis: investment, 202306–202308 acquisition $3.2b cash upfront + $300m cash milestones of Chinook by Novartis
	Money taker	SanReno Therapeutics (CN)
	Group	Novartis (Group)
	Money source	Novartis AG (NYSE: NVS)
	Group	Novartis (Group)
	Product	atrasentan (Chinook Therapeutics)
	Product 2	zigakibart (BION-1301, anti-APRIL Mab) (Chinook Therapeutics)

SanReno Therapeutics. (1/5/24). "Press Release: SanReno Therapeutics Announces Acquisition by Novartis in Pivotal Transaction to Bring Forward Transformative Therapeutics in Kidney Disease". Shanghai.

SanReno Therapeutics, a clinical-stage company specializing in the discovery, development, and commercialization of innovative therapies for kidney diseases, today announces its acquisition by Novartis, a global medicines company. Following the acquisition's closure, SanReno becomes an indirect, wholly-owned subsidiary of Novartis. The founding investors of SanReno, including Pivotal bioVenture Partners China, Frazier Life Sciences, Samsara BioCapital, and Versant Ventures, have sold their equity securities in SanReno.

Established in late 2021 as 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 presently undergoing Phase 3 development for IgAN. It demonstrated clinically meaningful and highly statistically significant proteinuria reduction at the 36-weeks interim analysis, successfully meeting the primary endpoint of its Phase 3 study. Zigakibart (BION-1301), a subcutaneously administered monoclonal antibody targeting APRIL (A Proliferation Inducing Ligand), obtained approval from China CDE for entry into the Phase 3 study in October 2023.

Completed within the first two years of SanReno's formation, this acquisition is one of the few transactions where a Chinese biotech company has been acquired by a multinational pharmaceutical company. The transaction underscores China's substantial market potential within the global renal market and is in strategic alignment with the Novartis commitment to pioneering innovative therapies for kidney diseases.

"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," said Haoyu Huang, Chief Executive Officer of SanReno 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."

About Atrasentan and Zigakibart

At the core of our innovative portfolio is a targeted clinical approach to Immunoglobulin A Nephropathy (IgAN). Our flagship asset, Atrasentan, an oral endothelin A receptor antagonist (ERA), is advancing through Phase 3 development for IgAN and achieved the primary endpoint in proteinuria reduction. In addition, Zigakibart (BION-1301), our subcutaneously administered anti-APRIL (A Proliferation Inducing Ligand) monoclonal antibody, received regulatory approval from China CDE to commence Phase 3 studies.

About SanReno Therapeutics

SanReno Therapeutics is a leading clinical-stage enterprise specializing in the strategic development, exploration, and commercialization of revolutionary therapies tailored for kidney diseases. Our key assets focus on treating Immunoglobulin A Nephropathy (IgAN). Atrasentan, an oral endothelian A receptor antagonist (ERA), has reached Phase 3 with success in reducing proteinuria. Zigakibart, our anti-APRIL (A Proliferation Inducing Ligand) antibody, received regulatory approval for Phase 3 studies. SanReno is dedicated to delivering transformative medicines for critical unmet needs in kidney disease therapeutics, driving advancements and setting new benchmarks in the field.