The transaction gives the Danish drugmaker full rights to develop and commercialise Embark Biotech’s lead asset targeting obesity and other cardiometabolic diseases.
In exchange, Embark Biotech will receive an upfront cash payment of €15m and will also be eligible to receive potential development, regulatory and commercial milestones of up to €456m.
Embark Biotech spun out of the Novo Nordisk Foundation Center for Basic Metabolic Research at the University of Copenhagen in 2017 and began collaborating with Novo in 2018.
