Nanexa has signed a global licensing and collaboration agreement with Novo Nordisk to develop long-acting injectable versions of certain peptide drugs for obesity, type 2 diabetes and other cardiometabolic conditions.
The agreement gives Novo an exclusive global license to use Nanexa’s PharmaShell drug-delivery technology in up to five development programs. The companies will target dosing schedules that include monthly and quarterly injections. Novo will lead global development and commercialization.
Nanexa is eligible for payments totaling up to approximately $1.32 billion. That includes an upfront payment and potential development and regulatory milestones worth a combined approximately $699 million. The remaining potential payments are tied to sales milestones. Nanexa could also receive low-single-digit royalties on global net sales of products developed under the agreement.
The companies did not disclose the upfront payment separately from the potential development and regulatory milestones. The headline value is a maximum potential amount, not a guaranteed payment.
PharmaShell uses atomic layer deposition to apply an ultrathin inorganic coating to individual drug particles. The coating is designed to control the release of an active ingredient over time, potentially allowing longer intervals between injections.
The collaboration covers peptide-based medicines for obesity, type 2 diabetes and other cardiometabolic indications. The companies did not identify the specific drugs included in the programs or provide a timetable for clinical studies.
Nanexa, based in Uppsala, Sweden, develops long-acting injectable formulations using PharmaShell. It previously entered a license and option agreement with Moderna in 2025.
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