Zealand Pharma A/S (ZLDPF.PK) on Thursday unveiled a multi-program collaboration and licensing agreement with OTR Therapeutics to discover and develop novel therapies for metabolic diseases, a deal worht up to $2.5 billion.
Under the agreement, the two companies will jointly identify and advance multiple targets in metabolic diseases. OTR Therapeutics will lead research and preclinical development using its proprietary platform, while Zealand Pharma will oversee clinical development, regulatory activities, and global commercialization.
OTR Therapeutics will receive an upfront payment of $20 million, which could increase to $30 million upon meeting certain conditions. It is also eligible for preclinical, development, regulatory, and commercial milestone payments.
The majority of the potential $2.5 billion consideration is tied to commercial milestones.
OTR Therapeutics is also eligible for tiered single-digit royalties on worldwide net sales of any products developed through the collaboration.
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