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Corvidia

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Creating precision therapies by using the science of genomics in new ways

Waltham, United StatesFounded 2015Biotech & Life Sciences

Valuation $1–2.5B Last recorded · 2020

Headcount <100 Current team size

Total funding $50–100M Disclosed equity funding

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About Corvidia

Corvidia Therapeutics operated as a clinical-stage biotechnology company, directing its efforts toward developing precision therapies for cardio-renal diseases. The company was founded in 2015 by Michael Davidson, Rahul Kakkar, Matt Devalaraja, and Ram Aiyar. The founding team brought together significant experience; Dr. Davidson was a serial entrepreneur with expertise in cardiology, having previously co-founded Omthera Pharmaceuticals, which was acquired by AstraZeneca. His co-founders, Dr. Kakkar and Dr. Devalaraja, came from AstraZeneca's Emerging Innovations Unit, where they had developed the science behind genome-guided cardiovascular therapies.

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The company's core strategy involved using functional genomics to identify specific genetic susceptibilities within cardiovascular patient populations. This approach allowed Corvidia to pinpoint patient groups with a unique sensitivity to certain biological pathways, enabling a more targeted and potentially rapid development of therapies. The business model was centered on advancing its drug candidates through clinical trials to demonstrate safety and efficacy, with the ultimate goal of commercialization or strategic acquisition. The company's operations were financed through venture capital, securing a $26 million Series A in 2016 and a $60 million Series B in 2018.

Corvidia's lead product candidate was ziltivekimab, a fully human monoclonal antibody that targets Interleukin-6 (IL-6), a cytokine involved in inflammation. Originally developed by MedImmune (AstraZeneca's biologics arm) for rheumatoid arthritis, Corvidia licensed the compound and repurposed it to reduce the risk of major adverse cardiovascular events in patients with chronic kidney disease (CKD), atherosclerotic cardiovascular disease (ASCVD), and inflammation. Ziltivekimab was being evaluated in clinical trials to assess its ability to lower C-reactive protein (CRP), a key marker of inflammation and an independent indicator of cardiovascular risk.

A significant milestone was achieved in June 2020 when Novo Nordisk announced its acquisition of Corvidia Therapeutics. The deal included an upfront payment of $725 million, with the potential for total payments to reach $2.1 billion upon the achievement of specific regulatory and sales milestones. This acquisition integrated ziltivekimab into Novo Nordisk's portfolio, aligning with its strategic goal to expand its presence in cardiometabolic diseases, which are closely linked to its core business in diabetes and obesity. Keywords: Corvidia Therapeutics, ziltivekimab, cardio-renal disease, precision medicine, functional genomics, Novo Nordisk acquisition, Interleukin-6 inhibitor, cardiovascular therapies, chronic kidney disease, IL-6, Michael Davidson, clinical-stage biotechnology, monoclonal antibody, inflammatory risk, Sofinnova Partners, AstraZeneca spin-off, Apple Tree Partners, Venrock, cardiovascular drug development, atherothrombosis

Source: Dealroom company data