Inversago Pharma

What Inversago Pharma does

Inversago Pharma was a privately-held, clinical-stage biopharmaceutical company headquartered in Montréal, Quebec, Canada, focused on developing a portfolio of peripherally-acting CB1 (cannabinoid receptor type 1) inverse agonists for metabolic and fibrotic disorders. Founded in 2015 and operating with 11–50 employees, the company's lead clinical asset was INV-202, a peripheral CB1 receptor blocker advancing through Phase 2 clinical trials for Diabetic Kidney Disease (DKD), with additional pre-clinical programs targeting obesity and related metabolic conditions. The company's core technological differentiator was its emphasis on peripheral (non-CNS-penetrant) CB1 blockade, which was positioned to preserve the metabolic benefits of CB1 antagonism while avoiding the psychiatric adverse effects that had derailed earlier CNS-active CB1 antagonists.

The business model was characteristic of a pre-commercial, capital-intensive clinical biotech: revenue was not generated from product sales; instead, the company was funded through successive venture equity rounds — a $7M Series A (July 2018) co-led by Amorchem and Genesys Capital, a $35M Series B (September 2020) co-led by Fonds de solidarité FTQ and Forbion Capital Partners, and a $95M CAD (~$69M USD) Series C (October 2022) led by New Enterprise Associates with participation from Forbion and Amgen Ventures. Cumulative capital raised was approximately $111M (USD-equivalent), deployed into R&D, clinical operations, and pre-clinical pipeline expansion. No pricing model, marketed product, or paying customer base existed during standalone operations.

In August 2023, Novo Nordisk A/S acquired Inversago Pharma for up to US$1.08 billion to strengthen its obesity and metabolic disorder pipeline with Inversago's CB1 blocker programs, including INV-202. Following the acquisition, Inversago ceased to operate as an independent entity; its website (inversago.com) is no longer resolvable, and the company's assets and programs have been folded into Novo Nordisk's portfolio. The Inversago brand, pipeline, and team no longer operate on a standalone basis.

Name

Inversago Pharma

Legal name

Inversago Pharma

Website

https://inversago.com

Company type

Private

Founded year

2015

Operating status

Acquired

Headcount range

11–50 employees

Short description

Inversago Pharma was a Canadian clinical-stage biotech developing peripheral CB1 receptor blockers for metabolic disorders, with lead asset INV-202 in Phase 2 trials for Diabetic Kidney Disease before its August 2023 acquisition by Novo Nordisk for up to $1.08B.

Ownership category

akta.pro rank

Product category

Biopharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Nephrology & Urology Specialty Pharmaceuticals (HLAIACAH)

akta.pro secondary industries

Neurology & CNS Specialty Pharmaceuticals (HLAIACAC), Endocrinology & Reproductive Health Pharmaceuticals (incl. Women’s Health) (HLAIAAAJ)

Keywords

• Clinical-stage biopharmaceuticals
• CB1 receptor blockers
• Metabolic disorder therapeutics
• Diabetic kidney disease treatment
• Cannabinoid receptor antagonists

Headquarters

HQ city

Montréal

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations

Core offering

Inversago Pharma develops peripheral CB1 receptor blocker (inverse agonist) therapies for metabolic and fibrotic disorders. Its lead clinical candidate, INV-202, is in Phase 2 clinical trials for Diabetic Kidney Disease. The company focuses on small-molecule drug discovery and clinical development rather than commercial manufacturing or sale of approved products.

Product overview

Inversago Pharma was a Canadian clinical-stage biopharmaceutical company focused on developing CB1 (cannabinoid receptor type 1) blocker therapies. The company's lead product was INV-202, which was advancing through Phase 2 clinical trials for Diabetic Kidney Disease. In August 2023, the company was acquired by Novo Nordisk A/S for up to US$1.08 billion.

Differentiator

Problem solved

Functional benefit

Products and services

• INV-202 INV-202 is a peripheral CB1 receptor blocker (inverse agonist) being clinically evaluated for Diabetic Kidney Disease; it is Inversago Pharma's lead clinical-stage therapeutic candidate.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Novo NordiskflagshipStrategic or Co-development Partner · 1 August 2023Novo Nordisk acquired Inversago Pharma in August 2023 for up to US$1.08 billion to strengthen its obesity and metabolic disorder pipeline with Inversago's CB1 blocker programs including INV-202.

Scale indicators3 records

Recent moves5 records

Expansion highlights3 records

Emerging players

• Travere Therapeutics: Commercial-stage rare disease company with Filspari approved for IgA nephropathy, making it a relevant peer in the kidney disease therapeutics market that Inversago's INV-202 is targeting.
• ProKidney: Clinical-stage cell therapy company focused on diabetic kidney disease, directly comparable to INV-202's lead indication and representing a parallel approach (cell therapy vs. small-molecule CB1) to DKD.
• Goldfinch Bio: Clinical-stage nephrology company focused on precision medicines for kidney disease, comparable as a peer in kidney-focused biotech drug development where Inversago's INV-202 operates.
• Maze Therapeutics: Clinical-stage precision medicine company with programs targeting kidney and metabolic diseases, including genetic forms of kidney disease, sharing the metabolic/kidney therapeutic development focus.
• Keros Therapeutics: Clinical-stage biotech developing treatments for hematological and musculoskeletal disorders with metabolic signaling modulation; comparable as a small-cap clinical-stage biotech with innovative mechanism-based programs.
• Rivus Pharmaceuticals: Clinical-stage biotech developing controlled metabolic accelerators (mitochondrial uncouplers) for obesity and metabolic liver disease, representing a parallel emerging approach to metabolic disease.
• Chinook Therapeutics: Clinical-stage nephrology company developing precision medicines for rare kidney diseases including IgA nephropathy, a direct peer in the kidney disease drug development space where Inversago's INV-202 is positioned.

Broad incumbents

• Esperion Therapeutics: Commercial-stage metabolic disease company focused on lipid-lowering therapies; comparable as a small-cap metabolic-focused biotech developing innovative cardiovascular/metabolic treatments.

Direct peers

• Corbus Pharmaceuticals: Clinical-stage biotech developing cannabinoid receptor-targeting therapeutics, including CB1 inverse agonists, making it the most direct mechanistic peer to Inversago's peripheral CB1 blocker approach.
• Aelis Farma: Clinical-stage company developing CB1-specific signaling inhibitors (CB1-SSi) for metabolic and psychiatric disorders, sharing Inversago's focus on CB1 pharmacology with a distinct mechanistic angle.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds3 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Inversago Pharma