Novo Nordisk ties up with Metaphore to develop new obesity drugs
(Reuters) -Novo Nordisk signed a research tie-up with U.S. biotech firm Metaphore on Thursday to develop next-generation obesity drugs.
WHY IT'S IMPORTANT
Danish drugmaker Novo is trying to expand beyond its blockbuster obesity drug Wegovy with at least eight other treatments in its R&D pipeline for the condition.
The collaboration will use Metaphore's tech platform to develop two therapies for obesity, the companies said.
CONTEXT
The global market for weight loss drugs is expected to reach at least $100 billion by the end of the decade.
Novo in January announced research collaborations with two biotech firms Omega Therapeutics and Cellarity, both of which were founded by U.S. investment firm Flagship Pioneering.
Metaphore was also founded by Flagship.
BY THE NUMBERS
* Novo may pay up to $600 million in various milestone payments, as well as royalties on annual net sales of licensed products, Metaphore said.
* Novo's payments will be shared between Metaphore and Flagship's research and partnership arm Pioneering Medicines.
(Reporting by Puyaan Singh in Bengaluru; Editing by Anil D'Silva and Shounak Dasgupta)
