Posted 1/4/2024, 11:08:37 PM
Novo Nordisk Stock Up On Deals With Biotech Startups For Drug Development
- Novo Nordisk stock rose nearly 4% on Thursday due to 2 new research collaboration deals
- The deals are with Omega Therapeutics and Cellarity, arranged under a framework agreement with Flagship Pioneering
- Novo Nordisk will collaborate on pre-clinical drug development and could conduct clinical trials if successful
- Each partner could earn up to $532 million in payments under the deals if development is successful
- Novo Nordisk lacks pharmaceutical scale so seeks external innovation to complement internal research