Novo Nordisk Reports the Acquisition of Embark Biotech for ~$514M
- Novo Nordisk has acquired all of Embark Biotech's lead assets, including its metabolic program. Novo Nordisk have also agreed to a 3yrs. R&D collaboration and option agreement with Embark Laboratories to discover & develop medicines for the treatment of obesity & associated co-morbidities
- Under the terms of the acquisition agreement, Embark’s shareholders will receive $16M in an up front cash payment & are eligible to receive potential development, regulatory & commercialization milestones of up to $498M
- On the other hand, Novo Nordisk received the option to acquire selected assets based on Embark Biotech’s discoveries across several indications incl. obesity & type 2 diabetes
Ref: PR Newswire | Image: Novo Nordisk
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