Novo Nordisk Signs €1.17 Billion Deal With Nanexa

Novo Nordisk signed a global licensing agreement with Swedish drug-delivery company Nanexa worth up to approximately €1.17 billion. The deal grants Novo Nordisk exclusive rights to use Nanexa’s PharmaShell technology, an ultra-thin coating designed to control drug release, for up to five development programs.

These programs target obesity, type 2 diabetes, and other cardiometabolic diseases. The partnership aims to develop monthly or quarterly injectable formulations to reduce the frequency of treatment for patients with chronic conditions. Novo Nordisk will lead the global development and commercialization of the resulting products.

Financial terms include an upfront payment and development and regulatory milestones totaling €615 million. The remaining value of the deal is tied to sales milestones and low single-digit royalties on global sales. Following the announcement, Nanexa shares surged more than 120% in early Friday trading, reaching their highest levels in over five years.