Ropes & Gray advised Novo in a global licensing agreement with Swedish drug delivery company Nanexa AB worth up to $1.3 billion to develop longer-lasting injectable treatments for obesity, type 2 diabetes, and other cardiometabolic conditions. The deal announced on September 24 could reduce the frequency that patients need to inject obesity and diabetes drugs.
Under the agreement, Novo gains exclusive access to Nanexa’s PharmaShell technology, which is designed to enable controlled and sustained release of active pharmaceutical ingredients through an ultra-thin inorganic coating applied to individual drug particles. The agreement covers up to five drug programs with monthly and quarterly dosing frequencies of the drugs.
Novo will pay Nanexa 615 million euros in upfront and development and regulatory milestone payments, with the remainder tied to sales milestones. Nanexa will receive a percentage of royalties on global sales of products developed under the agreement. Novo will lead the global development and commercialization of products developed with the deal.
The Ropes & Gray team included life sciences licensing partner Hannah England and associates Ryan Kramer and James Gould.
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