Novo Nordisk (NVO) and Valo Health said Wednesday that they plan to discover and develop new treatments for obesity, type 2 diabetes, and cardiovascular disease.
The collaboration is an expansion of an agreement the companies signed in 2023 to develop up to 11 drug programs mainly concerning cardiovascular disease.
Under the terms of the amended agreement, Valo will receive an upfront payment, equity investment, and a potential near-term milestone payment of $190 million in total. The company is also eligible to receive milestone payments of approximately $4.6 billion for up to 20 drug programs.
Shares of Novo Nordisk were up more than 2% in recent premarket activity.
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