Novo Nordisk: partners with Staten Biotech on new antibody
(CercleFinance.com) - Denmark's Novo Nordisk and The Netherlands-based Staten Biotechnology said on Monday that they would work together to develop a therapy to treat hypertriglyceridaemia, a risk factor for cardiovascular disease that is often present in people with diabetes and obesity.
Under the collaboration agreement, Novo Nordisk will provide research and development (R&D) funding and support for Staten to develop its antibody STT-5058 for treatment of dyslipidaemia.
Under an exclusive option agreement, Novo Nordisk has the right to acquire Staten Biotechnology, and gain worldwide rights to STT-5058.
In return, Staten Biotech and its shareholders could potentially receive signing and exercise fees, R&D funding and milestone payments of up to 430 million euros.
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