Novartis is to increase its investment in RNA-based medicines with the start of a new company in Vancouver, Canada called Borealis Biosciences which will focus on kidney diseases. The company is being launched through a collaboration with the venture capital group Versant Ventures and will take over research projects and staff from Chinook Therapeutics Inc, an enterprise acquired by Novartis in June 2023. The transaction involves the divestment of Chinook, the allocation of funds to the new company, and a strategic research collaboration.
