Novo Nordisk announced this week that it has acquired Embark Biotech, giving Novo control over the biotech's lead metabolic program.
Embark Biotech was spun-out from Novo's Foundation Center for Basic Metabolic Research in 2017. The recent acquisition will initiate a three-year collaboration with the newly-formed Embark Laboratories, which will focus on pharmaceutical solutions to tackle obesity and its associated complications.
Under the terms of the deal, Embark shareholders will receive an upfront cash payment of $16.3 million and stand to earn additional payments of close to $500 million in milestone payments.
Just a few weeks ago, Novo acquired Montreal-based Inversago Pharma in a deal valued at up to $1.075 billion, aimed at expanding Novo's range of obesity-related treatments. Inversago specializes in CB1 receptor-based therapies targeting obesity, diabetes, and metabolic disorder complications.
