Novo Nordisk (NYSE:NVO) has agreed to license drug-delivery technology from Swedish biotechnology company Nanexa in an agreement potentially worth up to €1.165 billion.
The exclusive global licensing agreement covers Nanexa’s PharmaShell platform and up to five development programmes targeting obesity, type 2 diabetes and other cardiometabolic conditions.
The technology could potentially allow treatments that are currently administered weekly to be delivered on a monthly or quarterly schedule, although development and regulatory work will be required before any such products could reach the market.
Nanexa Eligible for Up to €1.165 Billion in Payments
Under the agreement, Novo Nordisk will pay a total of €615 million comprising upfront payments and potential development and regulatory milestone payments.
Additional payments are linked to sales milestones, taking the potential total value of the agreement to €1.165 billion.
Nanexa is also eligible to receive royalties in the low-single-digit percentage range on global net sales of products developed under the agreement.
The milestone and royalty payments will depend on the progress and commercial performance of the relevant development programmes.
Novo Nordisk to Lead Development and Commercialisation
Novo Nordisk will be responsible for the global development and commercialisation of products covered by the agreement.
The programmes will focus on obesity, type 2 diabetes and other cardiometabolic conditions, incorporating Nanexa’s PharmaShell drug-delivery platform.
The agreement was announced after the market closed on Thursday.
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