Novo Nordisk Acquires Biotech Spinoff for $800 Million to Develop New Forms of InsulinBy
Novo Nordisk has acquired Ziylo, a company spun off from the University of Bristol in the UK with a technology platform of synthetic glucose-binding molecules for therapeutic and diagnostic applications, for approximately $800 million.
The acquisition gives Novo Nordisk full rights to Ziylo’s glucose-binding molecule platform to develop glucose-responsive insulins. A glucose-responsive insulin would help eliminate the risk of hypoglycemia, which is the main risk associated with insulin therapy and one of the main barriers for achieving glucose control, according to information from Novo Nordisk.
Prior to closing of the acquisition, certain research activities have been spun out of Ziylo to a new company, Carbometrics. Carbometrics has formed a research collaboration with Novo Nordisk to assist with ongoing optimization of glucose-binding molecules for use in glucose-responsive insulins. Carbometrics has licensed rights to develop non-therapeutic applications of glucose-binding molecules, with a focus on developing continuous glucose-monitoring applications.
Novo Nordisk acquires all shares in Ziylo for an upfront payment and earn-outs with contingent milestone payments. Total payments under the agreement could ultimately exceed $800 million upon the achievement of certain development, regulatory, and sales milestones by Novo Nordisk.
Source: Novo Nordisk