Novo Nordisk turns back on Heartseed partnership
Danish pharma major Novo Nordisk (NOV: N) has brought its collaboration with Japanese regenerative medicine company Heartseed (219A: TYO) to an end, according to a Tokyo stock exchange filing.
The document reports that Novo Nordisk has terminated the agreement as part of its strategic review and the resulting intention to further focus on its core business areas of diabetes and obesity. The restructure also includes the elimination of 9,000 jobs at the Copenhagen-based drugmaker.
It was in June 2021 that the companies entered into an exclusive worldwide collaboration and licence agreement for development, manufacturing and commercialization of Heartseed’s lead asset, HS-001.
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