Novo Nordisk to Acquire Akero Therapeutics for $4.7B 

Novo Nordisk entered into a definitive agreement to acquire Akero Therapeutics, Inc., a publicly held clinical-stage company developing treatments for serious metabolic diseases, for $4.7 billion in cash at closing with a contingent value right of $500 million.

Akero’s fibroblast growth factor 21 (FGF21) analogue efruxifermin (EFX) is a potentially best-in-class treatment for metabolic dysfunction-associated steatohepatitis (MASH). EFX is currently in phase 3 development for the treatment of moderate to advanced liver fibrosis and cirrhosis.

Approximately 40% of MASH patients also have type 2 diabetes, and more than 80% of MASH patients are overweight, linking MASH with Novo Nordisk’s development expertise in diabetes and obesity.

The phase 3 program builds on two 96-week phase 2b trials, in which EFX has been observed to significantly improve liver fibrosis and reverse compensated cirrhosis due to MASH. Over 96 weeks, the HARMONY and SYMMETRY trial demonstrated 49% and 29% reduction in fibrosis without worsening of MASH respectively, compared to 19% and 11% in the respective placebo groups.

“MASH destroys lives silently – and efruxifermin has the potential to change that by reversing liver damage,” said Mike Doustdar, President and CEO of Novo Nordisk. “If approved, we believe it could become a cornerstone therapy, alone or together with Wegovy (semaglutide), to tackle one of the fastest-growing metabolic diseases of our time. This acquisition embodies Novo Nordisk’s relentless ambition to move faster, go further, and ultimately deliver on our commitment to pursue leadership in diabetes, obesity and their associated comorbidities.”