Novo Nordisk signed a global licensing agreement with Swedish firm Nanexa for its PharmaShell technology. The deal carries a total potential value of up to €1.17 billion ($1.33 billion).
The partnership focuses on long-acting injectables for obesity, type 2 diabetes, and cardiometabolic diseases. Nanexa’s technology could shift treatments from weekly regimens to monthly or quarterly injections.
The agreement includes €615 million in upfront payments and development milestones. Sales milestones account for the remainder of the deal value. Nanexa will also receive low single-digit royalties on global net sales of resulting products.
Nanexa shares more than doubled during early trading on Friday. The announcement occurred after the market closed on September 24.