Novartis to acquire Chinook Therapeutics for $3.5bn.

Novartism, a healthcare company that provides solutions to address the evolving needs of patients worldwide, agreed to acquire Chinook Therapeutics, a biotechnology company that specializes in the fields of therapeutics and life science, for $3.5bn. "We are pleased that Novartis recognizes the significant value that the Chinook team has built with our pipeline of clinical and preclinical programs for patients with rare, severe chronic kidney diseases. We believe this transaction is great news for kidney disease patients and the programs we have built at Chinook. Through this merger, Novartis can apply its substantial resources to pursue broader development efforts and commercialization of atrasentan, zigakibart (BION-1301) and other programs in our pipeline to build its global renal therapeutic area,” Eric Dobmeier, Chinook Therapeutics CEO and President.