Helsinn licenses Zealand's GLP-2 drug

Swiss drugmaker Helsinn Healthcare has signed a partnering agreement for the development and worldwide commercialization of Danish firm Zealand Pharma's ZP1846, a glucagon-like peptide-2 receptor agonist for chemotherapy-induced diarrhea.

Under the terms of the deal, Helsinn will receive a worldwide exclusive license to ZP1846 and will be responsible for all further development, regulatory approvals, manufacturing, marketing and sales of the compound either on its own or through sub-licenses.

In return, Helsinn will pay development and sales milestones, as well as royalties, while Zealand retains the marketing rights to the Nordic countries. The total value of the non-royalty portion of the partnership is 140.0 million euros ($176.6 million).