Research company Nanexa’s agreement with Novo Nordisk, which may be worth up to approximately SEK 13 billion, fundamentally changes the company’s financing situation, according to CEO David Westberg.
As Finwire reported earlier today, Nanexa has entered into a global exclusive licensing and collaboration agreement with Novo Nordisk concerning the PharmaShell drug platform. The agreement covers up to five development programs for long-acting injectable peptide medicines in areas including obesity, type 2 diabetes and other cardiometabolic diseases.
Nanexa has, among other things, developed one- and three-month formulations of semaglutide.
“We have shown extremely good results with our formulations. We have seen that we can create very good release profiles, meaning an even distribution of the drug in the blood over time,” Westberg says on Di Börsmorgon.
The next step, according to him, is to demonstrate in clinical studies that the formulation works with the substance Novo chooses to move forward with.
The agreement also reduces Nanexa’s need for new share issues.
“We have more or less been dependent on conducting new share issues. We will not have that need to the same extent going forward. We will have a steadier flow of money”.
Asked why Novo did not buy all of Nanexa, Westberg says that this is not the company’s normal strategy at this stage of development.
“If we succeed with one or more, and I believe we will succeed with several of them, then perhaps, when it comes to the royalty payments, there may be a reason to buy the company instead. But no such discussions have taken place at present”.
Novo Nordisk is already Nanexa’s largest shareholder, with 14.1 percent of the shares.
Nanexa is surging just over 108 percent in today’s trading.
