(CercleFinance.com) – The Zealand Pharma share rose this Wednesday on the Copenhagen Stock Exchange following the signing of a license agreement with Novo Nordisk for the development of its Zegalogue, a treatment against episodes of hypoglycemia in patients diabetics.
Around 12:00 p.m., the title of the biotechnology company rose 4.4% while the OMXC25 index fell 0.1% at the same time. The Novo Nordisk share evolves around balance.
Under the terms of the agreement, Zealand will receive an upfront payment of 25 million Danish kroner (about 3.4 million euros), an amount which could be accompanied by 45 million kroner in the form of milestone payments.
The company could then receive 220 million Danish crowns depending on the achievement of certain commercial milestones, as well as royalties of around 10% on future sales of the drug.
Zegalogue was cleared by the US FDA in 2021 for the treatment of severe hypoglycemia in diabetic patients, both as an injector pen and a prefilled syringe.
Copyright (c) 2022 CercleFinance.com. All rights reserved.