Novo Nordisk granted exclusive option to acquire Staten Biotechnology
The Life Sciences team advised Staten Biotechnology B.V. on its strategic collaboration with Novo Nordisk A/S to develop novel therapeutics for the treatment of triglyceride dyslipidaemia. Under the collaboration agreement, Novo Nordisk will provide research and development funding and support for Staten to develop its lead asset, STT-5058.
Under an exclusive option agreement, Novo Nordisk has been granted the right to acquire Staten and gain worldwide rights to STT-5058. Staten and its shareholders are entitled to receive signing and exercise fees, research and development funding, and milestone payments of up to €430 million in aggregate.
Hypertriglyceridemia is a serious risk factor for cardiovascular disease. In particular, it is often present in people with diabetes and obesity. Staten has developed STT-5058, a new promising concept validated by human genetics, for the treatment of hypertriglyceridemia. The project holds potential to make a real difference for people suffering from cardiovascular disease.
BioGeneration Ventures provided the company’s seed financing in 2014 and Forbion led a Series A round in 2015, as the sole new investor.
The Goodwin team included partners Graham Defries, Andrew Harrow and Theresa Kavanaugh, and associates Emily Beman and Michael Grainger.
For additional details, please read Staten’s press release.