Zealand Pharma Announced Global License and Development Agreement with Novo Nordisk for ZEGALOGUE; Zealand to Receive Upfront Payment of DKK 25M Plus Up to DKK 45M in Milestones

Zealand Pharma A/S (NASDAQ:ZEAL) (CVR-no. 20045078,) a biotechnology company focused on the discovery and development of innovative peptide-based medicines, today announced it has entered into a global license and development agreement with Novo Nordisk A/S to commercialize ZEGALOGUE® (dasiglucagon) for injection. ZEGALOGUE® is approved by the U.S. Food and Drug Administration (FDA) for the treatment of severe hypoglycemia in pediatric and adult patients with diabetes aged 6 and above. Under the terms of the agreement, Zealand will receive an upfront payment of DKK 25 million and is eligible to receive up to DKK 45 million in near-term development, regulatory and manufacturing-based milestones. Zealand is also eligible to receive up to DKK 220 million in sales-based milestones and tiered royalties ranging from high single-digit to low double-digit percentages on worldwide net sales of ZEGALOGUE® to be marketed by Novo Nordisk. Zealand will be responsible for certain planned regulatory, development and manufacturing activities to support further development and approval outside of the U.S. Zealand will retain all non-licensed intellectual property rights to the company's other dasiglucagon development programs. Today's news does not impact Zealand's Financial Guidance for 2022 as reiterated in the company's Interim Report for the second quarter and first half of 2022 announced on August 11, 2022.