<SEC-DOCUMENT>0001104659-23-079658.txt : 20230710
<SEC-HEADER>0001104659-23-079658.hdr.sgml : 20230710
<ACCEPTANCE-DATETIME>20230710160838
ACCESSION NUMBER:		0001104659-23-079658
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230710
DATE AS OF CHANGE:		20230710

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINOOK THERAPEUTICS, INC.
		CENTRAL INDEX KEY:			0001435049
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37345
		FILM NUMBER:		231079817

	BUSINESS ADDRESS:	
		STREET 1:		400 FAIRVIEW AVENUE NORTH, SUITE 900
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98109
		BUSINESS PHONE:		206-485-7051

	MAIL ADDRESS:	
		STREET 1:		400 FAIRVIEW AVENUE NORTH, SUITE 900
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98109

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ADURO BIOTECH, INC.
		DATE OF NAME CHANGE:	20111107

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ADURO BIOTECH
		DATE OF NAME CHANGE:	20080514

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NOVARTIS AG
		CENTRAL INDEX KEY:			0001114448
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		LICHTSTRASSE 35
		CITY:			BASEL
		STATE:			V8
		ZIP:			CH 4056
		BUSINESS PHONE:		01141613241111

	MAIL ADDRESS:	
		STREET 1:		LICHTSTRASSE 35
		CITY:			BASEL
		STATE:			V8
		ZIP:			CH 4056
</SEC-HEADER>
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Rule&nbsp;14a-101)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY STATEMENT PURSUANT TO SECTION&nbsp;14(a)&nbsp;OF
THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(AMENDMENT NO.&nbsp;&nbsp; )</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by the Registrant <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by a Party other than the Registrant &#128505;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preliminary Proxy Statement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Confidential, for Use of the Commission Only (as permitted
by Rule14a-6(e)(2))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Definitive Proxy Statement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Definitive Additional Materials</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#128505;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting Material Pursuant to Rule&nbsp;14a-12</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Chinook
Therapeutics,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Registrant as Specified in its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; text-align: center; font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Novartis
AG</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Person(s)&nbsp;Filing Proxy Statement,
if other than the Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check all boxes that apply):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#128505; No fee required</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT> Fee paid previously with preliminary materials</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT> Fee computed on table
in exhibit required by Item 25(b)&nbsp;per Exchange Act Rules&nbsp;14a-6(i)(1)&nbsp;and 0-11</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On July&nbsp;10, 2023, the communication set forth below was delivered
on&nbsp;behalf of Novartis to employees of Chinook Therapeutics,&nbsp;Inc. (&ldquo;Chinook&rdquo;) in connection with its proposed acquisition
of Chinook.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Team Chinook,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">We hope you had a great 4<SUP>th</SUP>
of July&nbsp;week and had a chance to spend time with family and friends.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At Novartis, we are incredibly excited about the opportunities created
by the recently announced merger between our two companies! And we want to offer you our congratulations on the great progress you have
made to bring new medicines to patients with kidney diseases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chinook has developed a deep expertise and understanding of kidney
diseases, areas of high unmet need where new treatments are urgently needed. We share your passion to improve and extend the lives of
people with kidney disease and value the scientific rigor with which you are pursuing this goal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are excited by the progress Chinook has made in advancing its pipeline
for rare severe chronic kidney diseases, including IgA nephropathy, a heterogeneous disease where patients often require multiple treatment
options. We see atrasentan and zigakibart, as well as Chinook&rsquo;s earlier stage programs, as having the potential to meaningfully
advance care for patients with kidney diseases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At Novartis, we believe that people are our greatest asset and that
it is teamwork that makes difficult things achievable. People challenge medical paradigms to reimagine medicine and deliver transformative
innovation to patients around the world. Working together to achieve scientific and medical advances makes both of our companies exceptional
and rewarding places to work. After the closing of the transaction, we look forward to learning from you, supporting you, working together
on our joint mission to improve kidney health, and contributing through our global reach to bring Chinook innovation to as many patients
as possible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We realize that this is a time of uncertainty for many of you and appreciate
your patience as we still have several steps ahead of us to complete our transaction which is expected to close in the second half of
2023. Until then we will continue to operate as separate and independent companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Over the next couple of days, you will receive an invitation to a short
townhall meeting with us, which will be first of many conversations we will have on this journey together!</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Looking forward to a bright future and to connecting with you in person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Best regards,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>David Soergel, MD</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Global Head, Cardiovascular, Renal, Metabolism Development</P></TD>
    <TD STYLE="width: 45%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vasilisa Sazonov</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Global Therapeutic Area Head, eXploratory (including renal)&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Cautionary Statement Regarding Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This communication contains forward-looking statements within the meaning
of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words
such as &ldquo;potential,&rdquo; &ldquo;can,&rdquo; &ldquo;will,&rdquo; &ldquo;plan,&rdquo; &ldquo;may,&rdquo; &ldquo;could,&rdquo; &ldquo;would,&rdquo;
&ldquo;expect,&rdquo; &ldquo;look forward,&rdquo; &ldquo;investigational,&rdquo; &ldquo;pipeline,&rdquo; &ldquo;to acquire,&rdquo; &ldquo;development,&rdquo;
&ldquo;to include,&rdquo; &ldquo;progress,&rdquo; &ldquo;expected,&rdquo; &ldquo;continue,&rdquo; &ldquo;opportunity,&rdquo; &ldquo;to
address,&rdquo; &ldquo;commitment,&rdquo; or similar terms, or by express or implied discussions regarding potential marketing approvals,
new indications or labeling for atrasentan or zigakibart, the acquisition of Chinook Therapeutics, or regarding potential future revenues
from atrasentan or zigakibart. You should not place undue reliance on these statements. Such forward-looking statements are based on our
current beliefs and expectations regarding future events, and are subject to significant known and unknown risks and uncertainties. Should
one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially
from those set forth in the forward-looking statements. There can be no guarantee that atrasentan or zigakibart will be submitted or approved
for sale or for any additional indications or labeling in any market, or at any particular time.&nbsp;<FONT STYLE="color: #221F1F; background-color: white">Neither
can there be any guarantee expected benefits or synergies from this transaction will be achieved in the expected timeframe, or at all,
nor can there be any guarantee that&nbsp;</FONT>atrasentan or zigakibart&nbsp;<FONT STYLE="color: #221F1F; background-color: white">will
be commercially successful in the future. In particular, our expectations regarding&nbsp;</FONT>atrasentan or zigakibart&nbsp;<FONT STYLE="color: #221F1F">or
the transaction described in&nbsp;<FONT STYLE="background-color: white">this&nbsp;</FONT>communication&nbsp;could be affected by, among
other things, expected revenues, cost savings, synergies and other benefits from the proposed transaction might not be realized within
the expected time frames or at all and costs or difficulties relating to integration matters, including but not limited to employee retention,
might be greater than expected; the requisite regulatory approvals and clearances for the proposed transaction may be delayed or may not
be obtained (or may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of
the proposed transaction); the requisite approval of Chinook&rsquo;s stockholders may be delayed or may not be obtained, the other closing
conditions to the proposed transaction may be delayed or may not be obtained, or the merger agreement may be terminated; business disruption
may occur following or in connection with the proposed merger; Novartis or Chinook&rsquo;s businesses may experience disruptions due to
transaction-related uncertainty or other factors making it more difficult to maintain relationships with employees, other business partners
or governmental entities; the possibility that the proposed transaction is more expensive to complete than anticipated, including as a
result of unexpected factors or events; diversion of management&rsquo;s attention from ongoing business operations and opportunities as
a result of the proposed merger or otherwise;</FONT>&nbsp;the uncertainties inherent in research and development, including clinical trial
results and additional analysis of existing clinical data; regulatory actions or delays or government regulation generally; global trends
toward health care cost containment, including government, payor and general public pricing and reimbursement pressures and requirements
for increased pricing transparency; our ability to obtain or maintain proprietary intellectual property protection; the particular prescribing
preferences of physicians and patients; general political, economic and business conditions, including the effects of and efforts to mitigate
pandemic diseases such as COVID-19; safety, quality, data integrity or manufacturing issues; potential or actual data security and data
privacy breaches, or disruptions of our information technology systems, and other risks and factors referred to in Novartis AG&rsquo;s
current Form&nbsp;20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this communication
as of this date and does not undertake any obligation to update any forward-looking statements contained in this communication as a result
of new information, future events or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Additional Information and Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the proposed merger between Novartis and Chinook,
Novartis and Chinook intend to file relevant materials with the SEC, including a preliminary and definitive proxy statement to be filed
by Chinook. The definitive proxy statement and proxy card will be delivered to the stockholders of Chinook in advance of the special
meeting relating to the proposed merger. CHINOOK&rsquo;S STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT IN ITS ENTIRETY
WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS FILED BY EACH OF NOVARTIS AND CHINOOK WITH THE SEC IN CONNECTION WITH THE PROPOSED
MERGER OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES
TO THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain a free copy of the proxy statement and such other
documents containing important information about Novartis and Chinook, once such documents are filed with the SEC, through the website
maintained by the SEC at <U>www.sec.gov</U>. Novartis and Chinook make available free of charge at the Novartis website and Chinook&rsquo;s
website, respectively (in the &ldquo;Investors&rdquo; section), copies of materials they file with, or furnish to, the SEC. The contents
of the websites referenced above are not deemed to be incorporated by reference into the proxy statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Participants in the Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This communication does not constitute a solicitation of proxy, an
offer to purchase or a solicitation of an offer to sell any securities. Novartis, Chinook and their respective directors, executive officers
and certain employees may be deemed to be participants in the solicitation of proxies from the stockholders of Chinook in connection
with the proposed merger. Information regarding the special interests of these directors and executive officers in the proposed merger
will be included in the definitive proxy statement referred to above. Security holders may also obtain information regarding the names,
affiliations and interests of the Novartis directors and executive officers in the Novartis Annual Report on Form&nbsp;20-F and Form&nbsp;20-F/A
for the fiscal year ended December&nbsp;31, 2022, which were filed with the SEC on February&nbsp;1, 2023, and May&nbsp;15, 2023, respectively.
Security holders may obtain information regarding the names, affiliations and interests of Chinook&rsquo;s directors and executive officers
in Chinook&rsquo;s Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2022, which was filed with the SEC on
February&nbsp;27, 2023, and its definitive proxy statement for the 2023 annual meeting of stockholders, which was filed with the SEC
on April&nbsp;28, 2023. To the extent the holdings of Chinook&rsquo;s securities by Chinook&rsquo;s directors and executive officers
have changed since the amounts set forth in Chinook&rsquo;s definitive proxy statement for its 2023 annual meeting of stockholders, such
changes have been or will be reflected on Statements of Change in Ownership on Form&nbsp;4 filed with the SEC. Additional information
regarding the interests of such individuals in the proposed merger will be included in the definitive proxy statement relating to the
proposed merger when it is filed with the SEC. These documents (when available) may be obtained free of charge from the SEC&rsquo;s website
at <U>www.sec.gov</U>, Novartis website at <U>https://www.novartis.com</U> and Chinook&rsquo;s website at <U>https://www.chinooktx.com</U>.
The contents of the websites referenced above are not deemed to be incorporated by reference into the proxy statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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