Tuesday, February 27, 2024
Today, Neomorph, Inc. announced a collaboration and licensing agreement with Novo Nordisk, a global healthcare company. The collaboration aims to research, develop, and commercialize protein degradation agents based on molecular adhesives. Neomorph, founded in 2020, is a biotech company dedicated to addressing fundamental health issues through the discovery of therapeutics for previously challenging targets. It is financially backed by the Deerfield Management Company.
Phil Chamberlain, PhDr, co-founder, president, and CEO of Neomorph, expressed excitement about the partnership with Novo Nordisk, a renowned institution in diabetes, obesity, and rare blood disorders. He highlighted the potential of combining Neomorph's adhesives with Novo Nordisk's expertise to develop transformative treatments. Chamberlain also mentioned the opportunity to expand their platform into new therapeutic areas, complementing their ongoing work in oncology.
Under the terms of the agreement, Neomorph will receive upfront payment, milestone payments, and research and development funding. Additionally, Neomorph may receive future payments tied to clinical, commercial, and sales milestones, totaling up to $1.46 billion, along with royalties. Neomorph will lead research and preclinical activities for selected targets, while Novo Nordisk will have exclusive rights for further clinical development and commercialization.
Brian Vandahl, Senior Vice President of Global Research Technologies at Novo Nordisk, expressed the company's enthusiasm for the research agreement. He stated Novo Nordisk's commitment to exploring innovative therapeutic options for chronic diseases and their eagerness to begin scientific work on Neomorph's molecular adhesive technology for protein degradation.
Source: prnewswire.com
