An upfront payment and equity investment of $12M will be made.
Novo Nordisk and VLST entered into an exclusive, worldwide collaboration agreement to develop therapeutic targets utilizing VLST’s technology platform in the fields of autoimmune and inflammatory disorders.
Under terms of the agreement, Novo Nordisk and VLST will jointly undertake a research program to identify collaboration targets and develop product candidates within the field of autoimmune and inflammatory disorders. In exchange for Novo Nordisk’s rights to pursue the targets generated, VLST will receive an upfront payment and equity investment totaling $12 million, as well as milestone payments which are dependent upon clinical and regulatory milestones across multiple disease indications worldwide.
In addition, Novo Nordisk will support the research programs through the committed funding of VLST personnel working on the collaboration targets over the next three years. Novo Nordisk will provide resources to move programs through preclinical development, clinical development and commercialization for each product candidate resulting from the collaboration. The collaboration structure will allow Novo Nordisk to build programs in autoimmunity and inflammation while providing VLST with the ability to develop its own programs that are not part of this collaboration either on its own or with other partners. The research collaboration will run for three years with an option to extend.
