US-based Photys Therapeutics, Inc. has entered into an agreement with Denmark-based Novo Nordisk A/S (NYSE: NVO) to collaborate on the development of innovative proximity-based therapeutics for a cardiometabolic disease target. This multi-year partnership aims to leverage the complementary strengths of both companies to advance new treatment options in the field of cardiometabolic diseases.
Integrating Expertise and PHICS Technology
The collaboration will integrate Novo Nordisk’s extensive knowledge and experience in cardiometabolic diseases with Photys’ proprietary PHICS (PHosphorylation Inducing Chimeric Small molecules) technology. PHICS technology is designed to induce proximity between a kinase and a target of interest, leading to the phosphorylation of the target and alteration of its biological function, offering a new approach to disease treatment.
Financial Terms and Joint Development Efforts
The agreement includes an upfront payment of up to USD 186 million, along with development and commercial milestone payments, R&D funding, and tiered royalty payments on commercial sales. Under the terms, Photys will be responsible for advancing the PHICS molecules through preclinical development. Upon successful completion, Novo Nordisk will take over to further advance the PHICS molecules through IND-enabling studies and into clinical development.-Fineline Info & Tech
