Novo Nordisk is sticking close to home for its latest GLP-1 deal, signing a $285 million partnership with fellow Danish company Ascendis Pharma to work on new therapeutics for metabolic and cardiovascular diseases.
Ascendis will provide access to its TransCon technology platform in an effort to find GLP-1 candidates with reduced dosing frequency, according to a Monday press release. The $285 million payment includes an upfront fee plus development and regulatory milestone payments for the lead program, plus royalties. The company is also eligible for $77.5 million in milestones plus sales-based royalties for each additional program.
The lead program is a once-monthly GLP-1 receptor agonist that Novo will initially develop in obesity and type 2 diabetes. The pharma has exclusive rights to later expand to other indications.
Ascendis will lead early development of the product candidates, while Novo will be responsible for the costs. Novo will also handle clinical development through commercialization.
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