(Information sent by the signatory company)
– Neomorph announces multi-target collaboration with Novo Nordisk to discover new molecular glue degraders for cardiometabolic and rare diseases
SAN DIEGO, Feb. 26, 2024 /PRNewswire/ — Neomorph, Inc. announced today that it has signed a collaboration and licensing agreement with global healthcare company Novo Nordisk to discover, develop and commercialize molecular glue degraders. Neomorph, a biotechnology company solving critical human health problems by discovering new therapies against “non-drug” targets, was founded in 2020 and is backed by Deerfield Management Company.
“We are incredibly excited to partner with Novo Nordisk, a world-class healthcare company in diabetes, obesity and rare blood disorders,” explained Phil Chamberlain, DPhil, Co-Founder, President and CEO of Neomorph. “By combining Neomorph’s proprietary glue discovery platform with Novo Nordisk’s extensive experience in rare and cardiometabolic diseases, we are well positioned to develop transformative treatments in these areas. This collaboration will enable the expansion of our platform into new therapeutic areas, complementing our current efforts in oncology.
Under the terms of the agreement, Neomorph will receive upfront and near-term payments, as well as funding for R&D. Neomorph is also eligible to receive future payments for clinical, commercial and sales milestones, raising the total potential value of the deal for multiple targets at $1.46 billion, plus tiered royalties. Neomorph will lead discovery and preclinical activities against selected targets and Novo Nordisk will have the right to exclusively pursue clinical development and commercialization of the compounds.
“Novo Nordisk is expanding its drug discovery efforts and deploying a range of novel technology platforms with the goal of discovering and developing new treatment solutions for people living with serious chronic diseases. We are delighted to participate in this research collaboration and look forward to for beginning scientific work on the new class of molecular glue degraders pioneered by Neomorph,” said Brian Vandahl, senior vice president of global research technologies at Novo Nordisk.
About NeomorphNeomorph is a biotechnology company that solves critical human health problems by discovering and developing innovative new medicines against “non-drug” targets. Neomorph was founded in 2020 and is backed by Deerfield Management Company.
The Neomorph team is comprised of industry-leading experts in protein degradation and molecular glues who have a track record of groundbreaking discoveries in the field. The Neomorph team is committed to leading the advancement of the science and technology of molecular glue drug discovery, while pursuing a number of projects through clinical development.
Neomorph is based in San Diego, California. For more information, visit www.neomorph.com and follow us on LinkedIn.
ContactsInvestor contact: inquiries@neomorph.comMedia contact: media@neomorph.com
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