Zealand: sells diabetes royalties to fund pipeline growth
(CercleFinance.com) - Zealand Pharma has sold royalty streams and milestone payments to investment firm Royalty Pharma in a 205 million dollar deal intended to secure funding for the development of its own pipeline, the Copenhagen-based biotechnology company said on Friday.
Zealand has entered into an agreement to sell future royalty streams and potential commercial milestones for diabetes drugs Soliqua 100/33/ Suliqua and Lyxumia/Adlyxin, it said.
To date, Zealand Pharma received royalties on these drugs from Sanofi, under a license agreement that was signed in 2003.
Zealand will remain eligible for a payment of up to 15 million dollars from Sanofi, which is expected in 2020.
The Copenhagen-listed Zealand Pharma stock was up almost 12% on this news.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Zealand has entered into an agreement to sell future royalty streams and potential commercial milestones for diabetes drugs Soliqua 100/33/ Suliqua and Lyxumia/Adlyxin, it said.
To date, Zealand Pharma received royalties on these drugs from Sanofi, under a license agreement that was signed in 2003.
Zealand will remain eligible for a payment of up to 15 million dollars from Sanofi, which is expected in 2020.
The Copenhagen-listed Zealand Pharma stock was up almost 12% on this news.
Copyright (c) 2018 CercleFinance.com. All rights reserved.