Fresh off of the news that its drug Wegovy may not just help people lose weight, but could also lower cardiac risks, Novo Nordisk doubled down on its obesity drug pipeline Thursday, acquiring a small Canadian biotech with a new approach to weight loss.
Novo will spend up to $1 billion to buy Inversago Pharma, which is developing an oral obesity drug that targets the cannabinoid receptor CB1. It’s the second big obesity acquisition this year, following Eli Lilly’s move to purchase startup Versanis Bio.
Drugs like Wegovy are in a class called GLP-1 drugs, which mimic the effects of the glucagon-like peptide 1 hormone that help people feel full by targeting the hormone’s receptors.