Neomorph Announces Multi-Target Collaboration with Novo Nordisk to Discover Novel Molecular Glue Degraders for Cardiometabolic and Rare Diseases

San DiegoFebruary 27, 2024/PR Newswire/ --Neomorph, Inc.Today, it was announced that a collaboration and licensing agreement has been reached with global healthcare company Novo Nordisk to discover, develop, and commercialize molecular glue degraders. Neomorph, Inc., a biotechnology company addressing critical issues in human health by discovering novel therapies targeting "undruggable" targets, was founded in 2020 and venture-backed by Deerfield Management Company.

Co-Founder, President and Chief Executive Officer of NeomorphPhil Chamberlain"Novo Nordisk is a world-renowned healthcare company in the treatment of diabetes, obesity, and rare blood disorders, and we are very pleased to collaborate with them," the PhD stated. "By combining Neomorph's proprietary molecular glue discovery platform with Novo Nordisk's extensive expertise in cardiometabolic and rare diseases, we are well-positioned to develop transformative treatments in these areas. Through this collaboration, our platform will expand into new therapeutic fields, complementing our current research efforts in oncology."

Under the terms of the agreement, Neomorph will receive an upfront payment and near-term milestone payments, as well as research and development funding. Neomorph is also eligible for future clinical, commercial, and sales milestone payments, bringing the potential total value of the deal across multiple targets to $1.46 billion, plus tiered royalties. Neomorph will lead research and preclinical activities for the selected targets, while Novo Nordisk has the exclusive right to further clinically develop and commercialize these compounds.

Senior Vice President of Global Research Technology at Novo NordiskBrian Vandahl"Novo Nordisk is expanding its drug research efforts and deploying a range of new technology platforms aimed at discovering and developing new therapeutic solutions for patients with serious chronic diseases. We are excited to participate in this research collaboration and look forward to initiating scientific research work on the novel molecular glue degraders pioneered by Neomorph."