Novo Nordisk acquires Ziylo for up to $800 million

Novo Nordisk (NOV: N) has announced its acquisition of UK biotech Ziylo, in a deal worth up to $800 million.

The acquisition gives Novo Nordisk full rights to Ziylo's unique synthetic glucose binding platform, which may enable the Danish giant to develop glucose responsive insulins (GRI), preventing diabetic patients from suffering hypoglycemia in response to insulin therapy.

"We believe the glucose binding molecules discovered by the Ziylo team together with Novo Nordisk's world-class insulin capabilities have the potential to lead to the development of glucose responsive insulins which we hope can remove the risk of hypoglycaemia and ensure optimal glucose control for people with diabetes," said Marcus Schindler, senior vice president, global drug discovery, Novo Nordisk.