BioPharma Dive August 22, 2024
The venture firm partnered with Novartis to form Borealis Biosciences, which will advance RNA medicines for kidney diseases.
Chinook Therapeutics ranks among Versant Ventures’ most successful biotechnology bets.
The kidney disease drug developer, which Versant founded in 2019 and went public one year later, was bought by Novartis last summer for $3.5 billion.
The acquisition gave Novartis a drug that, soon after the deal, succeeded in Phase 3 testing for a condition known as IgA nephropathy. U.S. regulators are now reviewing it for a possible approval.
Novartis and Versant hope to replicate Chinook’s success with Borealis Biosciences, a new biotech they partnered to launch Thursday with more than $150 million in combined venture and research funding. Along with Series A...
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