French company acquires Novo cancer drug
Novo Nordisk has sold an experimental cancer drug in a deal that could earn the Danish company more than EUR 400 million. The deal sees Novo Nordisk raising its stake in the buyer, France's Innate Pharma.
BY HANS LØGSTRUP POULSEN
The French biotech company Innate Pharma has acquired the exclusive rights to Novo Nordisk’s cancer drug IPH5401. In return, the biotech pays EUR 40 million (almost USD 45 million) for the potential antibody of which EUR 37.2 million will be paid in new Innate Pharma shares. Novo Nordisk already owns about 10 percent of the company but with the new stakes, Novo’s shareholding increases to around 15 percent.
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