Novo Nordisk signed a $1.4 billion deal to develop new medications

Novo Nordisk has signed a deal worth up to $1.4 billion with Danish biotechnology company Orbis Medicines. The companies will work together on developing new medications for cardiovascular and metabolic diseases. The main goal is to develop drugs that could be taken in pill form.

Under the agreement, Orbis will receive an upfront payment and additional sums upon completion of various project milestones. The company will also receive a share of revenue from future sales of any medications developed. The parties have not specified exactly how the potential $1.4 billion would be divided.

Novo Nordisk will also make a direct investment in Orbis. The amount has not been disclosed. The companies will use Orbis's nGen technology, which uses artificial intelligence to search for molecules that could potentially replace certain injectable drugs with pills in the future. Orbis is a private company based in Copenhagen.

Source: Yahoo Finance