United Bio-Technology Enters License Agreement With Novo Nordisk For UBT251 - Quick Facts

(RTTNews) - The United Laboratories International and Novo Nordisk announced that Novo Nordisk and TUL's subsidiary The United Bio-Technology Hengqin, have entered into a license agreement for UBT251, a triple agonist of the receptors for GLP-1, GIP, and glucagon in early-stage clinical development for the treatment of obesity, type 2 diabetes, and other diseases.

Novo Nordisk will obtain exclusive worldwide rights, excluding Chinese mainland, Hong Kong, Macau, and Taiwan, to develop, manufacture, and commercialize UBT251. United Biotechnology will retain the rights for UBT251 in Chinese mainland, Hong Kong, Macau, and Taiwan. United Biotechnology is eligible to receive an upfront payment of $200 million and potential milestone payments of up to $1.8 billion from Novo Nordisk, as well as tiered royalties on net sales outside of Chinese mainland, Hong Kong, Macau, and Taiwan.

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