Prothena Agrees to Sell ATTR Amyloidosis Program to Novo Nordisk
Palo Alto – July 27, 2021 – Cooley advised Prothena, a late-stage clinical company with a robust pipeline of novel investigational therapeutics, on its agreement to sell its clinical-stage antibody PRX004 and broader amyloid transthyretin (ATTR) amyloidosis program to Novo Nordisk. Partners Marya Postner and Barbara Borden led the Cooley team advising Prothena.
Under the terms of the agreement, Novo Nordisk acquires Prothena’s wholly owned subsidiary and gains full worldwide rights to the intellectual property and related rights of its ATTR amyloidosis business and pipeline. Prothena is eligible to receive development and sales milestone payments totaling up to $1.2 billion, including $100 million in upfront and near-term clinical milestone payments.
ATTR amyloidosis is a rare, progressive and fatal disease characterized by the abnormal buildup of amyloid deposits composed of misfolded transthyretin protein in organs and tissues, most commonly the heart and/or nervous system.
“This announcement is consistent with our commitment to create a better future for patients in critical need of new treatment options,” Hideki Garren, chief medical officer of Prothena, said in a news release. “We are confident that Novo Nordisk will leverage its extensive expertise in developing treatments for those affected by cardiovascular diseases to advance this promising potential treatment to patients on an expedited timeline.”
Fueled by its deep scientific expertise built over decades of research, Prothena is advancing a pipeline of therapeutic candidates for a number of indications and novel targets for which its ability to integrate scientific insights around neurological dysfunction and the biology of misfolded proteins can be leveraged. Its pipeline includes wholly owned and partnered programs being developed for the potential treatment of diseases, including AL amyloidosis, Alzheimer’s, Parkinson’s and other neurodegenerative diseases.
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