Novo Nordisk, Life Edit Therapeutics in Gene-Editing Collaboration

By Dominic Chopping

Novo Nordisk said Wednesday that it has established a collaboration deal with Life Edit Therapeutics to discover and develop gene-editing therapies.

The Danish pharmaceutical giant plans to leverage Life Edit's gene-editing technologies to develop therapies for rare genetic disorders as well as more prevalent cardiometabolic diseases.

Under the agreement, Life Edit will receive an upfront cash payment and is eligible to milestone payments of $335 million for each of the first two development programs under the collaboration as well as up to $250 million for each of the following five development programs.

Novo Nordisk will be responsible for all research and development costs and Life Edit is also eligible to receive tiered royalties on future net sales of therapeutic products and has an option to a global profit share on one program.

The Danish company said it has also agreed to make an equity investment in ElevateBio, Life Edit's parent company, as part of ElevateBio's $401 million Series D financing.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

May 24, 2023 06:31 ET (10:31 GMT)

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