Novo Nordisk Makes Long-Term Bet On GBM Technology With Ziylo Buy
Novo Nordisk has bought UK-based start-up Ziylo in hopes of accelerating development of glucose-responsive insulins, but admits any such products are at least ten years away.
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After investing in the California biotech, Lilly buys the company in search of safer insulin products. The pharma sees these candidates as pairing with tirzepatide to improve diabetes therapy overall.
Novo, which is under pressure to diversify and signaled plans to cut jobs back in August, will lay off 400 people as it reallocates resources to more efficiently bring in novel products through both R&D and business development, continuing a deal-making spree that's already under way.
Merck announced Dec.2 that it is acquiring privately-held SmartCells for the company's preclinical SmartInsulin diabetes program in a deal potentially worth as much as $500 million. The acquisition will help bolster sales of Merck's blockbuster diabetes drug Januvia.