United Lab Receives Second Milestone Payment from Novo for UBT251 Exclusive Licensing Agreement

Stock News09-24

United Lab (03933) has issued an announcement that on September 23, 2026, its subsidiary United Biotechnology received a milestone payment of US$9 million (after deduction of Danish withholding tax) from Novo for the global Phase I clinical milestone of UBT251 injection for the type 2 diabetes indication.

Pursuant to the exclusive licensing agreement and subject to its terms and conditions, United Biotechnology is eligible to receive potential milestone payments of up to US$1.8 billion, contingent upon the achievement of certain development and sales milestones, as well as tiered sales royalties calculated based on annual net sales in the relevant territory.

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