Novo Nordisk To Buy Prothena's ATTR Amyloidosis Program For Up To $1.2B

Novo Nordisk A/S NVO will acquire Prothena Corporation plc's PRTA and clinical stage antibody PRX004 and broader ATTR amyloidosis program.
PRX004 is a Phase 2 ready immunotherapy designed to deplete the amyloid deposits associated with the disease pathology of ATTR amyloidosis.
ATTR amyloidosis is characterized by the abnormal buildup of amyloid deposits composed of misfolded transthyretin protein.
Prothena has completed a phase 1 study with PRX004 in patients with hereditary forms of ATTR, in which PRX004 was found to be safe and well-tolerated.
Novo Nordisk will initially focus on the clinical development of PRX004 in ATTR cardiomyopathy, characterized by the buildup of amyloid deposits in cardiac tissue.
Under the terms of the agreement, Prothena is eligible to receive milestone payments of up to $1.2 billion, including $100 million in upfront and near-term clinical milestone payments.
Price Action: PRTA stock is up 7.19% at $63.50, and NVO shares are up 0.2% at $86.71 during the premarket session on the last check Monday.