Denmark-based pharmaceutical giant Novo Nordisk (CPH: NOVO-B) has announced a partnership with life sciences venture capital company Flagship Pioneering and its pharmaceutical division, Metaphore Biotechnologies. The collaboration aims to develop up to two glucagon-like peptide-1 (GLP-1) receptor-targeting long-acting treatments for obesity.
As per the agreement, Metaphore Biotechnologies will be responsible for development up to the preclinical stage. Novo Nordisk will cover the research and development (R&D) expenses, take on the responsibility for clinical trials, and make payments of up to USD 600 million in upfront, development, and commercial milestones. Additionally, the deal includes potential royalties for Metaphore.- Flcube.com
