Novo Nordisk agreed to acquire global rights to Omeros’ MASP‑3 inhibitor zaltenibart, paying near‑term upfront and milestone sums and reserving up to $2.1 billion in total consideration tied to development and commercial milestones. Novo plans to start pivotal testing in paroxysmal nocturnal hemoglobinuria (PNH) and to explore additional complement‑mediated blood and kidney disorders where the drug’s mechanism may offer advantages. Omeros will retain certain research programs while receiving the near‑term payment and future milestones; its shares moved sharply higher on the announcement. Zaltenibart’s distinct MASP‑3 target positions Novo to expand beyond its core metabolic franchise into a differentiated complement program that could compete with established complement inhibitors. Industry observers will monitor Phase 3 design choices, head‑to‑head positioning vs. current standards, and Novo’s strategy for accelerating registration in rare disease indications, where speed to market and payer access will drive clinical and commercial value.