Novo Nordisk agreed to a global exclusive license for Nanexa’s drug delivery technology in a deal valued up to about €1.165 billion (US$1.325 billion). The collaboration is aimed at improving Novo’s longer-acting cardiometabolic peptide programs, positioning delivery platform IP as a key differentiator for extending dosing intervals. The move highlights how major pharma continues to source enabling formulation and delivery capabilities externally, rather than relying solely on internal development, as the industry competes for longer-acting GLP-1 and related pipeline share. For Nanexa, the licensing provides scale and validation; for Novo, it adds a targeted pathway to extend product longevity and potentially expand competitive advantage across obesity and cardiometabolic care.