BRIEF—Novo Nordisk buys option on Staten Biotechnology

Staten Biotechnology and Novo Nordisk have entered into a collaboration and exclusive option agreement to develop novel therapeutics for the treatment of hypertriglyceridaemia.

Novo will provide R&D funding and support for Staten to develop its lead asset STT-5058 for treatment of dyslipidaemia. The Danish firm has the right to acquire Staten Biotechnology and gain worldwide rights to STT-5058.

Netherlands-based Staten is eligible for signing and exercise fees, R&D funding, and milestone payments of up to 430 million euros ($487 million).