OPKO Health (OPK) and Entera Bio have entered a collaboration and license agreement to develop the first oral dual agonist GLP-1/glucagon peptide for obesity, metabolic, and fibrotic disorders.
The treatment, a once-daily tablet, combines OPKO's long-acting oxyntomodulin analog (OPK-88006) with Entera's N-Tab technology. Favorable preclinical data was reported in September 2024, and an Investigational New Drug or IND application is expected to be filed with the FDA later this year.
Under the agreement, OPKO and Entera will hold 60 percent and 40 percent ownership in the program, respectively, and share development costs accordingly. OPKO also purchased 3.69 million Entera shares at $2.17 per share, with proceeds funding Entera's Phase 1 contribution. If Entera opts out after Phase 1, its stake will reduce to 15 percent, while OPKO will take an 85 percent share and full funding responsibility.
Monday, OPK closed at $1.81, up 4.02%, and is currently trading at $1.85 after hours, up 2.21%, on the Nasdaq Global Select Market.
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