BioPharma Dive May 9, 2024
The deal with Metaphore Biotechnologies follows recent Novo partnerships with two other biotechs backed by the company creator, Omega Therapeutics and Cellarity.
Novo Nordisk is again turning to a Flagship Pioneering startup to find new weight loss drugs, announcing on Thursday a deal with Metaphore Biotechnologies to develop up to two medicines for obesity.
Through the partnership, Novo could pay the startup as much as $600 million in upfront and milestone payments and has committed to participate in a future financing round, Metaphore said in a statement. The biotech didn’t disclose the amount of the initial cash payment.
In return, Metaphore will help Novo discover up to two drugs aimed at the GLP-1 receptor — the target of Novo’s popular...
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