Hong Kong-based United Laboratories International Holdings Ltd (HKG: 3933) has entered into a licensing agreement with Denmark’s Novo Nordisk A/S (NYSE: NVO). The deal grants Novo Nordisk global development, manufacturing, and commercialization rights to United Laboratories’ UBT251, excluding China mainland, Hong Kong, Macau, and Taiwan, where United Laboratories retains the rights.
Drug Profile
UBT251 is a triple agonist targeting the receptors for GLP-1, GIP, and glucagon. It is in early-stage clinical development for the treatment of obesity, type 2 diabetes, and other metabolic diseases.
Financial Terms
Under the agreement, Novo Nordisk will provide an upfront payment of USD 200 million and potential milestone payments of up to USD 1.8 billion. Additionally, United Laboratories is entitled to receive tiered royalties based on net sales of the product.-Fineline Info & Tech
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