HIGH POINT- TransTech Pharma is expanding its drug candidate lineup, acquiring a portfolio of potential treatments for metabolic disorders from Novo Nordisk.
TransTech, which recently decided to remain in High Point and expand its operations, paid Novo Nordisk an upfront payment for the portfolio. However, specifics of the agreement were not disclosed.
Last year, TransTech reacquired a potential diabetes treatment that it had licensed to Novo Nordisk. The companies have been partners for several years, and Novo Nordisk was among the earlier investors in TransTech.
The latest deal follows a decision made by Novo Nordisk a year ago to focus on protein-based pharmaceuticals rather than so-called small molecule candidates.
“This allows us to focus our R&D efforts on therapeutic proteins while keeping a financial stake in the programs as a TransTech shareholder,” said Novo Nordisk Executive Chief Scientific Officer Mads Krogsgaard Thomsen.
The deal will enable TransTech to develop more drug candidates to combat diabetes and obesity, said TransTech Chief Executive Officer and founder Adnan Mjalli.
“We are confident that all three programs represent promising approaches to addressing unmet medical needs,” he said in a statement. “:These additions to the pipeline will allow TransTech to become a world leader in the discovery and development of novel treatments for diabetes, obesity and other metabolic disorders.”
TransTech currently has 11 programs in development.