Zealand acquires a struggling diabetes med-tech in push into US market
Zealand Pharma is expanding again.
Four months after buying out Canada’s Encycle Therapeutics and their library of GI-drugging peptides, Zealand has agreed to purchase Valeritas, a struggling medical technology company focused on diabetes. It will cost them $23 million.
The deal primarily serves as another onramp for the biotech to enter the US market. Copenhagen-based Zealand has previously partnered with large pharma companies, most notably joining with Sanofi on a pair of diabetes drugs that included the biotech’s GLP-1 analog: Soliqua and Lyxumia.
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