Novo Nordisk shells out for molecular glues

Novo Nordisk is using some of the profit from its weight-loss drugs to form a partnership with Neomorph, a start-up backed by Deerfield Management. The Danish firm will pay Neomorph an unspecified amount up front and up to $1.46 billion in milestone payments across multiple targets. The drugs in the collaboration are molecular glues—small molecules that degrade harmful proteins. Neomorph launched in late 2020 with $109 million to develop such treatments.