Novo Nordisk A/S (NVO) and Vivtex Corporation announced a partnership to develop next-generation oral biologic medicines for obesity, diabetes and associated comorbidities.
Novo Nordisk operates through two segments, Obesity and Diabetes Care, and Rare Disease and engages in the research and development, manufacture, and distribution of pharmaceutical products.
Vivtex's platform combines proprietary gastrointestinal screening assays, drug-delivery technologies, and computational simulation and AI capabilities to optimise the oral delivery of biologic medicines.
The pact aims to enable the oral delivery of biologic drug candidates that are traditionally limited to injectable administration because of poor gastrointestinal tract absorption.
NovoNordisk will leverage Vivtex's proprietary technologies built to identify optimal oral formulations for peptide and protein therapeutics with improved bioavailability.
As per the agreement, Vivtex will license select oral drug-delivery technologies to Novo Nordisk, and Vivtex will be eligible to receive upfront consideration, research funding, and milestone payments totalling up to $2.1 billion, as well as tiered royalties on future product sales.
"We launched the first-ever oral biologic more than five years ago and have recently launched the world's first oral biologic for obesity," said Brian Vandahl, senior vice president, Therapeutics Discovery, at Novo Nordisk.
NVO has traded between $38.36 and $93.80 in the past one year.The stock closed Tuesday's trade at $38.59, down 2.62%.
Currently, NVO is down 1.41% at $38.06 on the New York Stock Exchange.
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