Chinook Therapeutics Acquisition, Valuation, Funding & Investors

Chinook Therapeutics was acquired by Novartis for $3.5B in June 2023.

Chinook Therapeutics acquisition price

$3.5B

Acquired by Novartis · Jun 2023

Chinook Therapeutics revenue at acquisition

$6M

Last twelve months · Jun 2023

Cumulative funding Chinook Therapeutics raised

$65M

across 1 funding round

Key investors in Chinook Therapeutics

  • Versant Ventures
  • Samsara BioCapital
  • Apple Tree Partners

Chinook Therapeutics Overview

About Chinook Therapeutics

Chinook Therapeutics is a Seattle-headquartered clinical-stage biotechnology company developing targeted therapies for kidney diseases such as immunoglobulin A nephropathy and membranous nephropathy. The firm employs human genetics, transcriptomics, and single-cell analytics to identify precision medicines addressing glomerular diseases.


Founded

2019

HQ

CanadaVancouver

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$6M (Jun 2023)

Valuation

$3.5B (acquired Jun 2023)

Chinook Therapeutics Acquisition

Chinook Therapeutics was acquired by Novartis for $3.5B on 12 June 2023.

Before the acquisition Chinook Therapeutics had raised $65M across 1 funding round.

Chinook Therapeutics acquisition details
AcquirerDateTypePriceEV/Revenue
12 Jun 2023Strategic M&A$3.5B573.8x

Chinook Therapeutics Funding History

Chinook Therapeutics has raised a total of $65M across 1 funding round.

Chinook Therapeutics funding rounds

Chinook Therapeutics funding rounds
DateStageInvestorsRaisedDeal Summary
Aug 2019Series AVersant Ventures (lead); Apple Tree Partners; Samsara BioCapital$65MChinook Therapeutics, a Vancouver-based biotech company, launched in August 2019 with a $65 million Series A financing led by founding investor Versant Ventures, with participation from fellow founding investor Apple Tree Partners and new investor Samsara BioCapital. The proceeds were intended to fund the advancement of several kidney disease programs into clinical trials by 2021, focusing on precision medicines for rare, severe kidney disorders with potential utility in more common kidney diseases. The company emerged from Versant's Inception Sciences drug-hunting team, integrating a world-class discovery and research team with expertise in chemistry, biology, and pharmacology, led by experienced management with track records in drug development and company building. Chinook's lead candidates targeted defined and rapid clinical pathways in kidney diseases, backed by leading global healthcare investors. The firm was positioned to capitalize on new biological insights, technology advancements, and receptive regulatory agencies to develop novel therapies. Shortly after the Series A, Chinook merged with Aduro Biotech and completed a $115 million private placement financing, including $25 million from existing investors Versant, Apple Tree Partners, and Samsara, resulting in over $275 million in operating capital to advance programs like atrasentan, BION-1301, and CHK-336, as well as research for other rare chronic kidney diseases. Chinook achieved significant success, culminating in its 2023 acquisition by Novartis for $3.2 billion upfront plus up to $300 million in contingent value rights tied to milestones for lead candidate atrasentan, representing a premium of 83% to the 60-day VWAP and potentially totaling $3.5 billion. The acquisition highlighted the value built in Chinook's pipeline for kidney diseases. Subsequently, key members of Chinook's Vancouver research team, along with Versant, launched Borealis Biosciences in 2024 with $150 million in Series A financing and a Novartis collaboration worth up to $100 million upfront plus research funding, focusing on RNA medicines for kidney disease and building on Chinook's legacy.

Who has invested in Chinook Therapeutics?

3 investors have backed Chinook Therapeutics across its funding rounds, including Versant Ventures, Samsara BioCapital and Apple Tree Partners.

Lead investors include Versant Ventures.


Chinook Therapeutics Investors

Investors in Chinook Therapeutics by funding rounds participated
InvestorHQRoundsRoleFirst check
Versant VenturesUnited StatesSan Francisco, CA1LeadAug 2019

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Chinook Therapeutics Competitors

Chinook Therapeutics competitors include listed companies like Camurus, Wockhardt, Hualan Biological Engineering and Hubei Jumpcan, and private ones like Sinovac Life Sciences and Cytovant.

Public and private companies comparable to Chinook Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CamurusSwedenSwedenPublicly listed$231M$91M$3.5B11.1x
WockhardtIndiaIndiaPublicly listed$346M$69M$3.5B-
Hualan Biological EngineeringChinaChinaPublicly listed$685M$216M$3.5B5.1x
Hubei JumpcanChinaChinaPublicly listed$927M$360M$3.5B2.1x
Sinovac Life SciencesChinaBeijingPrivate--$3.3B-
CytovantChinaShanghaiPrivate--$3.3B-

Chinook Therapeutics Public Comps

Chinook Therapeutics is no longer listed, but its public comps include Camurus, Wockhardt, Hualan Biological Engineering, Hubei Jumpcan, Laboratorios Rovi, Beijing Tiantan, Viking Therapeutics, China Medical System, Legend Biotech and CR Pharmaceutical.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Camurus$231M$91M13.4x11.1x34.0x28.0x
Wockhardt$346M$69M10.7x-53.4x-
Hualan Biological Engineering$685M$216M4.8x5.1x15.3x16.3x
Hubei Jumpcan$927M$360M2.1x2.1x5.3x-
Laboratorios Rovi$856M$248M4.0x3.9x13.9x14.2x
Beijing Tiantan$920M$335M4.1x4.4x11.4x13.6x
Viking Therapeutics-($393M)--(7.5x)(5.9x)
China Medical System$1.2B$344M2.2x2.0x7.9x7.9x

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Common questions about Chinook Therapeutics

When was Chinook Therapeutics founded?Chinook Therapeutics was founded in 2019.
Where is Chinook Therapeutics headquartered?Chinook Therapeutics is headquartered in Vancouver, Canada.
Is Chinook Therapeutics publicly listed?No, Chinook Therapeutics was acquired by Novartis in June 2023.
Who acquired Chinook Therapeutics?Chinook Therapeutics was acquired by Novartis in June 2023.
How much was Chinook Therapeutics acquired for?Chinook Therapeutics was acquired for $3.5B in June 2023.
How much funding has Chinook Therapeutics raised?Chinook Therapeutics has raised $65M across 1 funding round.
What was Chinook Therapeutics' last funding round?Chinook Therapeutics' last funding round was a $65M Series A in August 2019, led by Versant Ventures.
Who are Chinook Therapeutics' investors?Chinook Therapeutics' investors include Versant Ventures, Apple Tree Partners and Samsara BioCapital.
Which companies are comparable to Chinook Therapeutics?Companies comparable to Chinook Therapeutics include Camurus, Wockhardt, Hualan Biological Engineering, Hubei Jumpcan, Sinovac Life Sciences and Cytovant.

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