Novo Nordisk agreed a deal worth up to €1.165 billion (US$1.325 billion) for a global exclusive license to Nanexa’s drug delivery technology, targeting longer-acting peptide formulations for its cardiometabolic portfolio. The collaboration is positioned as a mechanism deal—leveraging Nanexa’s platform to extend dosing intervals for future injectables. The arrangement builds on Novo’s ongoing strategy of tightening its cardiometabolic pipeline with next-generation formulation approaches, rather than relying solely on new peptide discovery. Under the terms described, Novo obtains exclusive rights to use the delivery technology globally, with economic value structured around milestones and deliverable scope.