Novo Nordisk struck another deal, this time with Omeros, amid a broader pipeline restructuring that recently claimed its cell therapy work.
Novo Nordisk is plunking down as much as $2.1 billion to license Omeros Corporation’s complement disease antibody zaltenibart, with eyes on expanding the molecule into several blood and kidney disorders.
The deal, announced Wednesday, gives Omeros $340 million in upfront and near-term milestone payments, zooming up to $2.1 billion depending on development and commercial milestones, plus tiered royalties on net sales. Shares of Omeros rose 167% to 10.39 in Wednesday afternoon trading.
Zaltenibart is a human monoclonal antibody that blocks the activity of MASP-3, a protein involved in the complement system that plays a role in numerous immunological and rare diseases. In Phase II data presented at the December 2024 meeting of the American Society of Hematology, the drug scored a 75% complete response rate in treating paroxysmal nocturnal hemoglobinuria (PNH), although the results came from just 12 patients. PNH is a rare, life-threatening disorder of complement system dysregulation that leads to hemolytic anemia.
In March, Omeros announced that a Phase III program was underway to test zaltenibart in an intravenous, once-every-eight-weeks dosing schedule. The company says this dosing schedule distinguishes the drug from other complement inhibitors, which require two or three oral doses per day or subcutaneous infusions twice weekly. Data from that trial will go toward a biologics licensing application (BLA) for the drug in PNH, with submission expected in the fourth quarter of 2026. Omeros estimates that the global market for PNH is $3.8 billion and could hit $11.7 billion by 2034.
The company is also running a Phase II trial for zaltenibart in C3 glomerulopathy, another complement-related disorder of the kidneys. But Novo has grander ambitions for zaltenibart. Chief Scientific Officer Martin Holst Lange said the company wants to “maximize the value” of the drug and develop it in several rare blood and kidney disorders. In the near term, Novo plans to kick off a Phase III study in PNH.
Omeros will hang on to its other MASP-3 preclinical programs that are unrelated to zaltenibart.
Novo has been busy with its pipeline, pruning in some places and dealmaking in others. Last week, the company quit working on its entire cell therapy pipeline, laying off around 250 employees. Earlier in the month, Novo also severed a $598 million cell therapy development deal with Heartseed for heart failure.
Those moves came at the same time that Novo bought Akero for $5.2 billion to gain access to the MASH treatment efruxifermin, leaning into an emphasis on liver and metabolic diseases.
