Gowling WLG advises on major collaboration deal

Gowling WLG's Life Sciences team has successfully advised Nanexa AB on a significant EUR 1.165 billion global licence and collaboration agreement with Novo Nordisk for the utilisation of Nanexa's innovative PharmaShell® drug delivery technology platform. The agreement grants Novo an exclusive global licence to develop specific peptide-based drugs aimed at addressing obesity, type 2 diabetes, and various cardiometabolic conditions.

This noteworthy collaboration encompasses up to five development programmes and aims to create long-acting injectable formulations with varying administration frequencies. Following the agreement, Novo will take the lead in the global development and commercialisation of the products that emerge from this partnership. Notably, Nanexa is set to receive an upfront payment as well as milestone payments that could reach up to EUR 1.165 billion, which includes EUR 615 million in upfront consideration along with potential development and regulatory milestone payments, compounded by single-digit royalties on future product sales.

The deal was co-led by Gowling WLG's Co-leader of Life Sciences & Healthcare (UK), Gina Bicknell, and Of Counsel Pat Duxbury. They collaborated closely with Nanexa's Chief Executive Officer, David Westberg, and Chief Business Officer, Bridget Lacey. Gina Bicknell remarked, "This is a significant strategic agreement for Nanexa, bringing together its innovative drug delivery technology with Novo's expertise in treating obesity and type 2 diabetes. Gowling WLG's longstanding relationship with Nanexa, built over a number of years, enabled the team to work closely with the company and help secure commercial outcomes that aligned with its strategic priorities."

Bicknell added, "The team is pleased to have supported Nanexa on a transaction that has the potential to accelerate the advancement of new treatments in this important and rapidly evolving field."

Founded in 2007, Nanexa is a Swedish-headquartered drug development company with a focus on injectable drug products utilising its proprietary PharmaShell® technology. In addition to this landmark deal, Gowling WLG has previously advised Nanexa on its licence and option agreement with Moderna in 2025 for the development of PharmaShell®-based products, showcasing the firm's strong capabilities in this vital sector.