Novo gets option to cardiovascular company Staten

Novo Nordisk A/S (CSE:NOVO B; NYSE:NVO) gained an option to acquire Staten Biotechnology B.V. (Nijmegen, the Netherlands), including its lead candidate, STT-5058, in development to reduce cardiovascular risk in patients with hypertriglyceridemia. STT-5058 is an antibody against apolipoprotein C-III (APOCIII; APOC3).

Staten will conduct a Phase I trial of the product in the next two years, after which Novo can acquire the company for an €100 million ($113.2 million) option exercise fee. Staten shareholders would be eligible for up to €300 million ($340 million) in milestones...