Uppsala – September 25, 2026 -- Nanexa AB has signed a global exclusive license and collaboration agreement with Novo Nordisk worth up to EUR 1.165 billion, granting the Danish pharmaceutical giant rights to the Swedish company's PharmaShell atomic layer deposition (ALD) drug delivery platform for peptide-based treatments in obesity, type 2 diabetes and other cardiometabolic diseases.
Novo Nordisk gains rights to up to five development programs under the deal
The agreement covers formulations targeting monthly and quarterly administration frequencies, reducing dosing burden for chronic metabolic and cardiovascular disease patients. Novo Nordisk will lead global development and commercialization across all programs, while Nanexa retains eligibility for milestone-based payments tied to development, regulatory and sales achievements.
Nanexa's upfront payment and near-term milestones total EUR 615 million
Of the total EUR 1.165 billion package, EUR 615 million is allocated to upfront payment plus development and regulatory milestones, with the remainder structured as sales milestones. Nanexa will additionally receive low single-digit royalties on global net sales of any products that reach commercialization under the agreement.
Deal follows 2025 Moderna partnership, validating PharmaShell across drug classes
David Westberg, CEO of Nanexa, said the Novo Nordisk agreement builds on the company's 2025 license and option agreement with Moderna, calling it further external validation of PharmaShell as a broadly applicable delivery platform. The ALD-based technology applies an ultra-thin inorganic coating to individual drug particles, enabling controlled and sustained release of active pharmaceutical ingredients.
Nanexa plans to expand PharmaShell into new therapeutic areas using deal proceeds
Chairman Goran Ando said the financial strength from the agreement allows Nanexa to expand ALD technology applications beyond metabolic disease and advance internal programs further before seeking additional partnerships. The company intends to push new projects closer to clinical proof of concept, aiming to negotiate more favorable terms in future partner deals.