Novo has entered into a global exclusive license agreement with Swedish biotech company Nanexa to gain access to its longer-lasting drug delivery technology. The agreement is aimed at supporting Novo’s efforts to narrow the gap with rivals in the cardiometabolic arena. Under the terms of the deal, Novo will pay €615m ($701m) in upfront and milestone-based payments, while sales milestones could take the total value of the agreement to €1.165bn (1.33bn).
Nanexa is also eligible for low single-digit royalties on global net sales generated by products resulting from the collaboration. The partnership gives Novo access to Nanexa’s PharmaShell platform, an injectible technology designed around controlled and sustained drug release. The deal marks another step by Novo to access technology that could support longer-lasting formulations in its key therapeutic areas.
PharmaShell Enables Controlled Drug Release
Nanexa’s PharmaShell platform is based on atomic layer deposition (ALD) and is designed to control and sustain the release of active pharmaceutical ingredients (APIs). The system uses an ultra-thin inorganic coating that is applied directly to individual drug particles. Both the composition and thickness of this coating can be adjusted to produce the required release profile. Once applied, the coating gradually dissolves, allowing the API to be released over a period of time. Through this injectible technology, Novo is looking to develop formulations that can remain effective for longer periods and potentially reduce the frequency with which treatments are administered. The platform therefore forms a central part of the agreement, with Novo seeking to apply the technology across multiple development programmes.
Novo Targets Monthly and Quarterly Dosing
Novo intends to use Nanexa’s platform for peptide drugs across up to five development programmes covering obesity, type 2 diabetes and other cardiometabolic diseases. At present, injectables used for these indications are administered weekly. By applying Nanexa’s injectible technology, Novo is targeting formulations that could support monthly and quarterly dosing. The move comes as Novo seeks to close the gap with Eli Lilly, which has asserted dominance in the type 2 diabetes and obesity arenas over the past few years. Nanexa CEO David Westberg said: “This agreement further strengthens the external validation of PharmaShell as a broadly applicable drug delivery platform, and we believe this provides a strong foundation for expanding PharmaShell into additional therapeutic areas and to selectively advance additional internal programs towards clinical proof of concept.” The agreement with Novo is Nanexa’s second high-profile partnership with a big pharma company in the past year.
