Zealand hands off dis­ap­point­ing di­a­betes rev­enue from Sanofi in ex­change for a $205M in­jec­tion to back a new pipeline

Dan­ish biotech Zealand Phar­ma is cash­ing in its roy­al­ty chips on its lack­lus­ter di­a­betes drugs. The com­pa­ny, which has switched fo­cus to its rare dis­ease pipeline, is grab­bing $205 mil­lion from Roy­al­ty Phar­ma in ex­change for $85 mil­lion in com­mer­cial mile­stones and its rev­enue stream due from Sanofi on Soli­qua and Lyx­u­mia.

Once the mon­ey comes through, Zealand plans to pay off a bond to be­come debt free as it pur­sues a new fu­ture in much more nar­row­ly tar­get­ed mar­kets.

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