Pharma BD Deal Intelligence
A multi-target RNAi licensing deal built on Dicerna's GalXC platform across 30+ liver-targeted cardiometabolic programs, with Novo paying $175M upfront and up to $357.5M in milestones per target. The collaboration proved out fast: Novo acquired Dicerna outright in 2021 for $3.3B.
Novo Nordisk and Dicerna Pharmaceuticals entered a multi-target RNAi therapeutics collaboration using Dicerna's proprietary GalXC (sGalNAc-siRNA) platform for liver-related cardiometabolic diseases. Novo paid $175M upfront plus $25M/year for three years, with up to $357.5M in milestones per target across 30+ targets. Dicerna led discovery through clinical candidate selection; Novo led subsequent clinical development. Novo later acquired Dicerna outright in 2021 for $3.3B.
Duplicate cardiometabolic RNAi row (3rd of 3 on this deal). Same competitive context: Alnylam inclisiran / olpasiran / zilebesiran, Arrowhead ARO-ANG3, Ionis olezarsen. Recommend deduplication.
Liver-Targeted RNAi Therapeutics is a modality label rather than a disease indication. Key competitive platforms: Alnylam (GalNAc-conjugated siRNA, dominant with patisiran/Onpattro, vutrisiran/Amvuttra, lumasiran/Oxlumo, givosiran/Givlaari, inclisiran/Leqvio), Arrowhead (TRiM platform; ARO-APOC3, ARO-ANG3), Ionis (ligand-conjugated antisense; olezarsen, eplontersen/Wainua), Dicerna's own GalXC now inside Novo. This row should be split into specific disease indications for landscape authoring.
Novo paid $175M upfront + $25M/yr for GalXC RNAi platform targeting cardiometabolic diseases.
FDA approved Rivfloza (nedosiran), the lead RNAi asset acquired with Dicerna, for primary hyperoxaluria type 1 (children >=9 yrs and adults). Novo Nordisk's first RNAi medicine via the GalXC platform - post-close validation of the deal.
Collaboration led to Novo acquiring Dicerna for $3.3B. Platform and pipeline fully integrated.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Novo Nordisk A/S / Dicerna Pharmaceuticals, Inc. (this deal) | 2019 | $3.3B | 88 |
| Novo Nordisk A/S / Emisphere Technologies | 2020 | $1.4B | 90 |
| Novo Nordisk A/S / Vivtex Inc. | 2026 | $2.1B | 69 |
| Novo Nordisk A/S / Dicerna Pharmaceuticals, Inc. | 2021 | $3.3B | 68 |
| Novo Nordisk A/S / Forma Therapeutics Holdings Inc. | 2022 | $1.1B | 68 |
| Novo Nordisk A/S / Inversago Pharma | 2023 | $1.1B | 61 |
| Novo Nordisk A/S / Forma Therapeutics Holdings Inc. | 2022 | $1.1B | 58 |
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