Nanexa, a Swedish microcap company, experienced a dramatic increase in its stock price after announcing a global licensing deal with pharmaceutical giant Novo Nordisk. The agreement, which covers Novo's long-acting injectable drugs aimed at treating obesity and type 2 diabetes, grants Novo exclusive rights to utilize Nanexa's PharmaShell technology, which enhances drug release control.
Initially, Nanexa's shares rose more than 150% at market open, stabilizing to a 114% gain later in the morning, bringing the stock close to its all-time high from November 2015. The deal includes an upfront payment of approximately $700 million, along with potential milestone payments and low single-digit royalties on future sales.
This partnership is expected to provide Nanexa with substantial financial strength, enabling the company to expand its technology into new therapeutic areas and advance its internal programs. Both Göran Ando, Nanexa's chair, and David Westburg, the CEO, emphasized the transformative potential of this agreement for the company's future growth and sustainability