Oct 13 (Reuters) – Zealand Pharma and Generate Biomedicines said on Tuesday they have partnered to develop protein-based treatments for obesity and other metabolic diseases using AI, in a deal worth up to nearly $1.2 billion.
Shares of Somerville, Massachusetts-based Generate Biomedicines were up about 5% in extended trading.
Generate will receive $30 million upfront and up to $35 million in early preclinical milestones and could earn nearly $1.2 billion in development, regulatory and commercial milestones, the companies said.
Generate will lead research through lead-candidate selection, while Zealand will oversee clinical development, regulatory submissions and commercialization.
(Reporting by Sahil Pandey in Bengaluru; Editing by Diti Pujara)
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