Novo Nordisk signs Nanexa deal up to $1.3B

Novo Nordisk agreed to pay Nanexa up to about €1.17 billion ($1.3 billion) for exclusive global rights to use the Swedish company’s PharmaShell drug-delivery technology in as many as five development programs. The technology coats drug particles to control and sustain the release of medicines, with the companies aiming to develop injections for obesity, type 2 diabetes and other cardiometabolic diseases that could be administered monthly or quarterly. Nanexa is eligible for €615 million in upfront and development and regulatory milestone payments, additional sales-based milestones, and low single-digit royalties on future global sales. Novo will lead development and commercialization, and Nanexa shares more than doubled after the deal was announced.