Novo Nordisk A/S is a global healthcare company, founded in 1923 and headquartered in Denmark. Novo Nordisk employs more than 45,000 people in 80 offices around the world, and markets its products in 169 countries. The agreement between the two companies means that Novo Nordisk A/S has acquired Prothena’s clinical stage antibody PRX004 and broader ATTR amyloidosis programme.
Under the terms of the agreement, Novo Nordisk A/S acquires full worldwide rights to the intellectual property and related rights of Prothena’s ATTR amyloidosis business and pipeline. Prothena is eligible to receive development and sales milestone payments up to US$1.2 billion, including US$100 million dollars upfront and near-term clinical payments. On completion of the agreement, Novo Nordisk intends to initially focus on the clinical development of PRX004 in ATTR cardiomyopathy.
Novo Nordisk A/S was advised by a cross-departmental Matheson team led by Corporate M&A partner David Fitzgibbon, Tax partner Aidan Fahy, Tax Principal John Ryan and Corporate partner John Coary.