Novo Nordisk acquired Forma Therapeutics to expand in the sickle cell disease market

Novo Nordisk has entered into a definitive agreement with Forma Therapeutics to buy all its outstanding shares, USD 20 per share, at a total equity value of USD 1.1bn. The acquisition aims to accelerate Novo Nordisk’s presence in sickle cell disease (SCD) and rare blood disorders.

“Novo Nordisk has worked for more than 40 years to develop and deliver transformative medicines to patients worldwide with rare and devastating diseases. By adding Forma’s differentiated approach to address unmet needs for patients, we are taking a step forward in enhancing our sickle cell disease pipeline,” said Ludovic Helfgott, executive vice president and head of Rare Disease at Novo Nordisk, in a statement. “We have an ambition to build a leading portfolio with standalone and combination treatments to tackle the complications and underlying causes of sickle cell disease.”

SCD is an inherited blood cell disorder that changes the shape of red blood cells (RBCs), causing ineffective delivery of oxygen and thereby leading to anemia, fatigue, and progressive end-organ damage. Approximately 17 million people worldwide have SCD, and despite the availability of advanced treatments, patients’ overall health is still compromised.

Forma Therapeutics, founded in 2007, focuses on rare hematological diseases and cancers. Their lead compound – Etavopivat – is a pyruvate kinase-R activator that functions by a) increasing ATP, which could promote RBC health and reduce hemolysis b) decreasing 2,3-diphosphoglycerate (2,3-DPG), which could enhance the hemoglobin-oxygen affinity in SCD patients. These effects are expected to improve the overall health of sickle RBCs. The clinical trials evaluating the efficacy and safety of Etavopivat are a) Hibiscus (Phase 2/3) for patients with SCD and b) Gladiolus (Phase 2) for patients with thalassemia and transfusion-dependent SCD. The earlier phase I data for Etavopivat showed improved anemia and RBC health with a well-tolerated safety profile.

Etavopivat has been granted Fast Track, Rare Pediatric Disease, and Orphan Drug designation from the FDA and Orphan Drug designation from the European Commission.

The Forma Therapeutics board has unanimously approved the transaction, which is expected to close during the fourth quarter of 2022.