Novo Nordisk (NVO, Financials) entered an exclusive agreement with Ascendis Pharma (ASND, Financials) to license Ascendis's TransCon technology platform for developing novel treatments targeting metabolic and cardiovascular diseases.
With possible development into other treatment areas, the main emphasis of the partnership is a once-monthly GLP-1 receptor agonist meant for type 2 diabetes and obesity. Currently a major competitor in the weight-loss market, Novo Nordisk wants to lower the GLP-1 receptor agonist dose frequency by means of this cooperation. Wegovy (semaglutide), the company's much-used weight-loss medication, is taken weekly.
Under the deal, Ascendis will handle the first development of TransCon-based candidates and get up to $285 million in upfront and milestone payments for the lead program. Based on regulatory and developmental benchmarks, additional paymentsup to $77.5 million apiecemay be obtained for other candidates. Additionally entitled for sales-based milestone payments and tie-red royalties on worldwide net sales is Ascendis.
Clinical development, regulatory approval, manufacture, and commercialization of any drugs arising from the cooperation will fall to Novo Nordisk.
By the end of 2024 the businesses want to have finalized the agreement.
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