The transaction included an upfront payment and potential contingency payments. Total payments under the deal could reach $800 million if all milestones are achieved, Novo Nordisk said. Further financial details were not disclosed.
The deal gives Novo Nordisk full rights to Ziylo’s synthetic technology for therapeutic and diagnostic applications. The University of Bristol spin-out company has in turn spun out certain research activities to form a new company, Carbometrics, which has entered a research collaboration with Novo Nordisk.
“We believe the glucose binding molecules discovered by the Ziylo team, together with Novo Nordisk world-class insulin capabilities, have the potential to lead to the development of glucose responsive insulins which we hope can remove the risk of hypoglycemia and ensure optimal glucose control for people with diabetes,” Marcus Schindler, senior vice president, global drug discovery, for Novo Nordisk, said in a prepared statement.