14 Hrs
Source:
Sky News
Novo Nordisk Buys Swedish Obesity Tech
Novartis has announced an agreement valued at €1.16 billion with Swedish company NaniXa to acquire rights to drug delivery technology for obesity and diabetes treatments. The deal grants an exclusive global license for a drug delivery platform based on layer-by-layer atomic deposition, which utilizes compounds that interact with the surface of the substance to slow the release of medication. Novartis will lead the development and commercial marketing of the products. The agreement includes upfront payments of €615 million, milestone-dependent payments, and future sales royalties. The goal of the agreement is to enhance treatments for obesity and type 2 diabetes.
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