Fol­low­ing luke­warm launch and lay­offs, Zealand Phar­ma is li­cens­ing out its di­a­betes drug to No­vo Nordisk

In March, Zealand Phar­ma gut­ted its US work­force and said it was look­ing for strate­gic part­ner­ships for its di­a­betes prod­ucts fol­low­ing a dis­ap­point­ing first year on the mar­ket for its di­a­betes treat­ment Ze­ga­logue.

On Wednes­day morn­ing, the Dan­ish biotech fol­lowed up with its plans, an­nounc­ing it is li­cens­ing Ze­ga­logue out to No­vo Nordisk in ex­change for DKK 25 mil­lion up­front (ap­prox­i­mate­ly $3.3 mil­lion USD). In ad­di­tion, Zealand can get DKK 45 mil­lion in near-term mile­stones and DKK 220 mil­lion in sales.

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