United Laboratories International Holdings (HKG:3933) said its subsidiary United Biotechnology received a $9 million milestone payment from Novo Nordisk for a global Phase II clinical trial of UBT251 in Type 2 diabetes.
The payment relates to UBT251, a triple agonist targeting GLP-1, GIP and glucagon receptors under an exclusive license agreement with Novo Nordisk, according to a Thursday Hong Kong bourse filing.
United Biotechnology is eligible for up to $1.8 billion in development and sales milestone payments under the agreement, plus tiered royalties based on annual net sales in the territory.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments