Chinook Therapeutics (acquired by Novartis)

Chinook Therapeutics is a clinical-stage biotechnology company developing precision medicine for rare, severe chronic kidney diseases that lack effective treatments and clinical pathways. The company uses its proprietary translational platform and patient stratification tools to discover precision therapies. 

The company has three clinical-stage drug candidates in its pipeline: Atrasentan, BION-1301, and CHK-336 for treating Immunoglobulin A (IgA) nephropathy, a kidney disease that currently has no cure. Chinook’s leading clinical program, Atrasentan, is a receptor in Phase 3 clinical trials. The firm is also evaluating the drug for primary glomerular disease, which is caused by an infection or a drug that is harmful to a person’s kidneys. The drug was licensed by AbbVie in 2019. BION-1301 is an Anti-APRIL monoclonal antibody that has received the Orphan Drug Designation from FDA and plans to initiate Phase 3 clinical trials in 2023. CHK-336 which is a small molecule for treating a rare genetic metabolic disorder called primary hyperoxaluria is in Phase 1 clinical trial. 

In August 2023 , Novartis acquired Chinook Therapeutics through a merger with the overall transaction amounting to USD 3.5 billion.

Key partnerships and customers

The company partners with healthcare organizations such as the National Kidney Foundation, Nephcure Kidney International, and American Kidney Fund to promote its clinical trials among kidney patients.

Funding and financials

The company, founded in 2019, raised USD 115 million in private placement financing ahead of a merger with Aduro Biotech in October 2020. During the same month, the combined company took Chinook’s name and began trading on Nasdaq under the ticker symbol “KDNY”. Chinook is yet to generate any revenue from drug sales. In May 2022, Chinook Therapeutics raised gross proceeds of USD 121 million with which it planned to fund Phase 3 ALIGN and Phase 2 AFFINITY clinical trials of its lead drug candidate atrasentan as well as to prepare for the commercialization of the drug. The proceeds were also allocated for its Phase 3 clinical trial of its BION-1301 drug program and to advance its CHK-336 drug candidate. 

For 2022, the company reported a net loss of USD 187.9 million (up 82.6% YoY), while revenue was USD 6.1 million (down 88,2% YoY). In Q1 2023 , the company’s net losses significantly deepened, up 89.9% YoY, to USD 60.2 million. It reported collaboration and license revenue of USD 1.8 million (down 33.3% YoY).