Prothena Achieves $40 Million Clinical Milestone Payment From Novo Nordisk

By Mary de Wet

Prothena Corp. said Monday that it earned a $40 million milestone payment from Novo Nordisk A/S related to the advancement of NNC6019 in a Phase 2 clinical study for the treatment of ATTR cardiomyopathy.

The study was initiated in August and is investigating the safety and efficacy of NNC6019 in 99 people with transthyretin amyloid cardiomyopathy, a progressive disease that is often fatal.

Novo Nordisk gained worldwide rights to the intellectual property and related rights of the ATTR amyloidosis business and pipeline it acquired from Prothena in July 2021, the biotechnology company said.

Under the terms of the agreement, Prothena is eligible to receive up to $1.2 billion upon achievement of several clinical development and sales milestones, the company said. Prothena said it has received $100 million to date.

Write to Mary de Wet at [e-mail]

(END) Dow Jones Newswires

11-21-22 1643ET