Novo Nordisk Inks $600M Genetic Medicines Pact With Canadian Firm To Target Cardiometabolic Indications

Wednesday, Canada-based NanoVation Therapeutics announced a multi-year partnership with Novo Nordisk A/S NVO to advance the development of novel genetic medicines targeting cardiometabolic and rare diseases.

The partnership combines NanoVation Therapeutics' proprietary long-circulating lipid nanoparticle (lcLNP) technology for RNA delivery to cells outside the liver with Novo Nordisk's expertise in cardiometabolic and rare disease R&D and clinical translation.

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Under the agreement, Novo Nordisk and NanoVation will collaborate on two lead programs to develop base-editing therapies for certain rare genetic diseases and up to five additional future targets for cardiometabolic and rare diseases.

Novo Nordisk will receive a defined exclusive, worldwide license to use NanoVation's LNP technology for the two lead programs. NanoVation will receive research funding and is eligible to receive up to approximately $600 million in up-front cash, potential milestone payments, and tiered royalties on future product sales.

NanoVation has an extensive and continuously growing library of novel lipids and LNP compositions.

In preclinical studies, NanoVation's lcLNP technology has demonstrated the ability to deliver nucleic acids to various cell types beyond the liver with improved potency, safety, and stability compared to conventional systems.

On Monday, Korro Bio Inc. KRRO announced a collaboration with Novo Nordisk to advance the discovery and development of new genetic medicines. The initial target is cardiometabolic diseases.

The collaboration will focus on developing RNA editing product candidates for two undisclosed targets using Korro's proprietary platform.

Korro is eligible to receive up to $530 million in upfront, development, and commercial milestone payments, in addition to tiered royalties and R&D funding.

Korro will advance up to two programs through preclinical development, after which Novo Nordisk could further advance the programs through clinical studies.

Price Action: NVO stock is up 0.62% at $132.82 at the last check on Wednesday.

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