Boehringer gains global rights to Zealand's diabetes/obesity compounds in 376 million-euro deal
German independent drug major Boehringer Ingelheim has signed an exclusive global licence and collaboration agreement with Denmark’s Zealand Pharma (Nasdaq OMX: ZEAL) for the latter’s dual-acting glucagon and GLP-1 receptor agonists for the treatment of patients with type-2 diabetes and patients with obesity which could cost it as much as 376 million euros ($539.9 million). Shares in the Danish firm leapt an initial 13% but settled 8.4% higher at 8.4 Danish kroner on the news.
As part of the deal, Boehringer Ingelheim obtains global development and commercialization rights to ZP2929, Zealand Pharma's lead glucagon/GLP-1 dual agonist drug candidate. Zealand Pharma will be responsible for conducting the first Phase I study with ZP2929 and the German firm will fund the research, development and commercialization of products under the agreement.
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