Novo Nordisk is doubling down on its investment in genetic medicine-based biotechs, inking a new collaboration with a lipid nanoparticle developer worth up to $600 million.
The new deal announced Wednesday is the second such collaboration that Novo has unveiled this week. Korro Bio disclosed Monday that it was working with Novo on identifying two cardiometabolic candidates in a deal worth $530 million in upfront and milestone payments.
NanoVation will have similar responsibilities, working with the Danish pharma giant on two lead candidates for genetic rare diseases. The biotech says it’s given Novo a worldwide, exclusive license to use its lipid nanoparticle tech on the targets. The two companies can also link up for an additional five targets, should they wish to expand the pact.
In addition to the $600 million that includes an undisclosed upfront payment, NanoVation says it will also receive research funding from Novo.
Karina ThornKarina Thorn, Novo’s corporate VP and head of research in the global nucleic acid therapies unit, said NanoVation’s technology may help produce candidates “with curative potential.”
Canada-based NanoVation previously announced a partnership with ME Therapeutics in July to develop mRNA-based therapies that could be delivered to myeloid cells. That announcement did not include financial details, but the two said that the first stage of the collaboration will involve delivering two target mRNAs to myeloid cells in a colon cancer mouse model.
None of the candidates in NanoVation’s pipeline have advanced into the clinic and most are available for partnerships. The two assets that the company currently expects to develop internally are aimed at gene expression involving cancer immunotherapy and healthy aging.