Sofinnova Partners, a leading European life sciences venture capital firm based in Paris, London and Milan, announced today the sale of its portfolio company Corvidia Therapeutics to Novo Nordisk, for $2.1 billion, including an upfront payment of $725 million. Corvidia, an AstraZeneca spin-off, is a clinical-stage company focused on the research, development and commercialization of transformative therapies for cardio-renal diseases. Sofinnova Partners was CorvidiaÕs sole seed financial investor in 2015 and it has remained the largest shareholder throughout the companyÕs evolution. Based in Boston, MA, Corvidia is a biotechnology company pioneering the next generation of cardiovascular therapies.
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