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Novo Nordisk ties up with Metaphore to develop new obesity drugs
- By Newsdesk
- London
- May 10, 2024
Novo Nordisk has entered into a research partnership with the U.S. biotech company Metaphore to develop next-generation drugs for obesity.
Why it Matters:
Novo Nordisk aims to expand its portfolio beyond its blockbuster obesity drug Wegovy, with eight other treatments for obesity in its research and development pipeline. The collaboration will utilize Metaphore's technology platform to develop two therapies for obesity.
Background:
The global market for weight loss drugs is projected to exceed $100 billion by the end of the decade.
In January, Novo announced research collaborations with two other biotech companies, Omega Therapeutics and Cellarity, both of which were established by the U.S. investment firm Flagship Pioneering. Metaphore was also founded by Flagship.
Key Figures:
Metaphore stated that Novo could pay up to $600 million in various milestone payments, in addition to royalties on annual net sales of licensed products. These payments will be divided between Metaphore and Flagship's research and partnership division, Pioneering Medicines.