Novo Nordisk Reports the Acquisition of Embark Biotech for ~$514M
Shots:
- 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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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
