Novo Nordisk signs €1.17B licensing pact with Nanexa

Novo Nordisk has entered into an exclusive global licensing and collaboration agreement with Swedish drug-delivery firm Nanexa. The deal is valued at up to €1.165 billion ($1.3 billion) and covers technology designed to make obesity and diabetes treatments longer-lasting.

Under the terms of the agreement, Novo Nordisk secures exclusive worldwide rights to Nanexa's PharmaShell platform for use in up to five development programs. The programs focus on obesity, type 2 diabetes and other cardiometabolic conditions. PharmaShell uses atomic layer deposition to apply an ultra-thin inorganic coating to drug particles, enabling controlled and sustained release.

The partnership aims to develop long-acting injectable formulations that allow monthly or quarterly dosing, shifting away from the weekly injections standard in the category. Novo Nordisk will lead the global development and commercialization of all resulting therapies.

Nanexa is eligible to receive up to €615 million in upfront payments as well as development and regulatory milestones, with the remainder tied to sales milestones. Nanexa is also set to receive low-single-digit royalties on global net sales of treatments developed under the pact.