The euphoria around weight loss drugs might just be beginning.
What’s happening:
- Novo Nordisk (NASDAQ: NVO) has announced a new $600M USD collaboration with Metaphore Biotechnologies to develop two new drug candidates aimed at rapid weight loss
Why it matters:
- Weight loss drugs have become the hottest new trend in biotech, which has drawn significant interest from investors in both Silicon Valley and Wall Street
Going deeper:
- Metaphore Biotechnologies was founded by legendary biotech incubator and drug development platform builder Flagship Pioneering
- Novo Nordisk currently owns weight loss drugs Wegovy and Ozempic, both of which have experienced massive adoption and brought in billions in new sales amidst the boom in using therapeutics for treating obesity
- As part of the new deal between Novo Nordisk and Metaphore, Novo has agreed to also participate in the next financing round done by Metaphore
The intrigue:
- Novo Holdings, the parent company of Novo Nordisk, also recently announced their plans to put $200M USD into quantum computing startups that are focused on life sciences and drug discovery
