Novo Nordisk sells rights to cancer drug to Innate Pharma

Novo Nordisk has sold rights to a new oncology compound to Innate Pharma, its long-term collaborative partner.

Innate Pharma has acquired full development and commercialisation rights to the anti-NKG2A antibody, a first-in-class immune checkpoint inhibitor that is ready to enter phase II development in oncology.

Novo Nordisk previously conducted a large phase I trial with anti-NKG2A in patients with rheumatoid arthritis, demonstrating its strong safety profile. It has now decided to advance other compounds for further development in inflammation instead.

The sale will see Novo Nordisk receive an initial two million euros (1.66 million pounds) in cash and 600,000 shares in Innate Pharma. It will also be eligible for a total of 20 million euros in potential registration milestones and single-digit tiered royalties on future sales.

Per Falk, senior vice-president for biopharmaceutical research at Novo Nordisk, said: "We believe that anti-NKG2A has its greatest potential in oncology and that Innate Pharma is in the best position to pursue its development."

Last year, the company achieved a 12 percent year-on-year increase in sales, thanks to the strong performance of its key product Victoza, as well as its modern insulins and biopharmaceuticals ranges.