Novo buys into obesity triple mechanism; AZ deepens China ties: Deals Report
Plus: Dren Bio strikes $600M bispecific agreement with Sanofi, and more
Novo Nordisk has found the latest addition to its obesity pipeline in China. The pharma is paying United Laboratories $200 million up front for rights to tri-functional molecule UBT251, which targets GLP-1, GIP and GCG receptors to treat metabolic disorders. The deal includes $1.8 billion in milestones, and excludes rights in mainland China, Taiwan, Hong Kong and Macau.
The molecule from United Laboratories International Holdings Co. Ltd. (HKEX:3933) has generated early clinical evidence in China, with the top dose in a Phase Ib study leading to 15.1% weight loss at 12 weeks. Western biopharmas have struck deals with China-based biotechs at an unprecedented pace recently, taking advantage of faster generation of clinical evidence and lower prices — although the discounts appear to be getting smaller...