Novo Nordisk acquires glucose binding molecules developer Ziylo
Novo Nordisk acquisition of Ziylo : Danish pharma company Novo Nordisk has acquired Ziylo, a University of Bristol spin-out biotechnology company, in a deal that could cross $800 million to support its goal to develop glucose responsive insulins.
Based at Unit DX science incubator in Bristol, Ziylo developed a class of glucose binding molecules that could turn out to be a critical component in medical devices like continuous glucose monitors and therapeutics like glucose responsive insulins.
Novo Nordisk acquisition of Ziylo enables full rights for the Danish pharma company to the glucose binding molecules of the UK biotech company to develop glucose responsive insulins. The development of glucose responsive insulins is said to be an important strategic area for the Danish pharma company in its effort to come up with the next generation of insulin for a safer and more effective insulin treatment.
Under the terms of the deal, Novo Nordisk purchased all shares in Ziylo for an upfront payment and earn-outs with contingent milestone payments. Total payments for the Novo Nordisk acquisition of Ziylo is likely to be eventually more than $800 million based on the Danish pharma company achieving certain development, regulatory and sales milestones.
Commenting on Novo Nordisk acquisition of Ziylo, Dr Harry Destercroix – co-founder and CEO of Ziylo, said: “Novo Nordisk is the ideal company to maximize the potential of the Ziylo glucose binding molecules in glucose responsive insulins and diabetes applications, and it brings hope of a truly groundbreaking treatment to diabetes patients.
“Novo Nordisk is the leader in the diabetes field, with deep clinical development and regulatory expertise and an established commercial infrastructure to deliver important new therapies to patients.”
According to Novo Nordisk, a glucose responsive insulin would help in removing the risk of hypoglycaemia, which is considered to be the main risk associated with insulin treatment and also an important barrier for achieving optimal glucose control.
Marcus Schindler – senior vice president, Global Drug Discovery, Novo Nordisk, commenting on Novo Nordisk acquisition of Ziylo, said: “We believe the glucose binding molecules discovered by the Ziylo team together with Novo Nordisk world-class insulin capabilities have the potential to lead to the development of glucose responsive insulins which we hope can remove the risk of hypoglycaemia and ensure optimal glucose control for people with diabetes.”
Prior to Novo Nordisk acquisition of Ziylo, the UK biotech company’s research activities were spun out in a new company called Carbometrics.
Carbometrics and Novo Nordisk have entered into a research collaboration to optimize glucose binding molecules for their application in developing glucose responsive insulins.
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