Novo Nordisk agreed to acquire Omeros’ MASP‑3 inhibitor programme in a transaction worth up to $2.1 billion to advance zaltenibart, a candidate for paroxysmal nocturnal hemoglobinuria (PNH) and other blood and kidney disorders. The deal includes upfront and near‑term milestone payments and royalty rights for Omeros, and Novo plans a global Phase 3 programme for PNH. Omeros had paused its Phase 3 ramp earlier this year because of capital constraints; the Novo deal revives the programme and shifts development responsibility to a large global company with commercial infrastructure in rare disease. Novo Nordisk highlighted the novel mode of action and the potential to expand the asset into complementary rare indications. The acquisition reflects a strategy by large pharma to bolt on specialty rare‑disease assets with late‑stage proof‑of‑concept, while providing smaller companies with liquidity and development continuity. Market watchers will follow protocol design, comparator choice, and regulatory pathways as Novo advances Phase 3 planning.