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Deals report: Novo-Neomorph seek degraders, Column Group taking NGM private, and more

ARTICLE | Deals

Plus: agreements between Rigel-Blueprint, BeiGene-Shoreline and AstraZeneca-FibroGen

By Gunjan Ohri, Data Content Analyst

February 27, 2024 2:16 AM UTC

The past week has been sleepy for dealmaking, with companies disclosing just one deal worth over $1 billion and one other with an upfront payment of more than $50 million.

In a deal that could bring up to $1.5 billion,  Novo Nordisk A/S (CSE:NOVO B; NYSE:NVO) is tapping the molecular glue discovery platform of  Neomorph Inc. to develop protein degrader therapies against multiple targets for cardiometabolic and rare diseases. Deerfield-backed Neomorph, which was founded in 2020 to develop molecular glues against otherwise undruggable targets, will receive an upfront payment of undisclosed size and be eligible for near-term milestones. The biotech will lead preclinical development, after which Novo has clinical development and commercialization rights. …