Novo Nordisk: buys supramolecular chemistry company
(CercleFinance.com) - Novo Nordisk has acquired Ziylo, a University of Bristol spin-off company that has been pioneering the use of synthetic glucose binding molecules for therapeutic and diagnostic applications.
The acquisition will gives Novo full rights to Ziylo's glucose binding molecule platform to develop glucose responsive insulins, a key strategic area in its effort to develop this next generation of insulin.
Novo Nordisk is acquiring all of Ziylo's shares for an upfront payment and earn-outs with contingent milestone payments, the Danish drugmaker said.
In all, payments could ultimately exceed 800 million dollars upon the achievement of certain milestones.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The acquisition will gives Novo full rights to Ziylo's glucose binding molecule platform to develop glucose responsive insulins, a key strategic area in its effort to develop this next generation of insulin.
Novo Nordisk is acquiring all of Ziylo's shares for an upfront payment and earn-outs with contingent milestone payments, the Danish drugmaker said.
In all, payments could ultimately exceed 800 million dollars upon the achievement of certain milestones.
Copyright (c) 2018 CercleFinance.com. All rights reserved.