Novo Nordisk, Flagship to develop next-generation obesity drugs

Flagship Pioneering’s Metaphore unit announced a new collaboration with partner Novo Nordisk (NVO) for the research and development of next-generation obesity management treatments.

The collaboration will utilize Metaphore’s MIMIC platform for the discovery and development of up to two therapeutics targeted at the GLP-1 receptor and related biology, with the goal of creating long-acting drugs for obesity management that don’t require frequent dosing.

Metaphore will work jointly with Pioneering Medicines, Flagship's in-house drug development unit, and Novo Nordisk on foundational and preclinical activities, after which Novo Nordisk could advance the drugs into clinical testing, Flagship said in a statement.

Under the deal, Novo Nordisk may pay up to $600M in upfront and milestone payments, along with tiered royalties on annual net sales of licensed products that make it to market. The payments would be shared between Metaphore and Pioneering Medicines.

Novo Nordisk will reimburse the companies for R&D costs and participate in a future financing round for Metaphore, Flagship added.

The deal is Flagship’s third with Novo Nordisk under a broader strategic partnership for cardiometabolic and rare disease therapies. Flagship-founded Cellarity and Omega Therapeutics (OMGA) also announced research programs with the Danish drugmaker this year.

Novo Nordisk is already an established leader in GLP-1 drugs to treat obesity and diabetes. The Danish drugmaker markets the hugely popular drugs Wegovy and Ozempic, along with other medications for the conditions. Its main competitor in that market has been Eli Lilly (LLY), which markets the GLP-1 drugs Zepbound and Mounjaro.

Platform developer Flagship has founded or helped found dozens of biotech companies over the years, including Denali Therapeutics (DNLI), Foghorn Therapeutics (RHTX), Inari (NARI), Moderna (MRNA), Seres Therapeutics (MCRB), and Sana Biotechnology (SANA).