In November 2019, Dicerna Pharmaceuticals entered a strategic collaboration with Danish multinational pharma, Novo Nordisk to discover and develop novel therapies for liver-related cardio-metabolic diseases using its GalXC technology. The deal aimed to explore more than 30 liver cell targets and develop clinical candidates for a multitude of disorders including chronic liver disease, non-alcoholic steatohepatitis (NASH), type 2 diabetes, obesity, and rare diseases. 

Almost exactly two years later, Novo Nordisk has decided to completely acquire the Lexington, MA-based biotech in an all-cash deal for $38.25 per share that amounts to a total of $3.3 billion in equity value. This represents a premium of almost 80% to Dicerna's closing price on Wednesday. The M&A deal is expected to close in the fourth quarter of 2021, said the company in a statement. It also expects to initiate clinical development with the first target next year.