Remynd could receive as much as $413m from healthcare firm Novo Nordisk if its ReS39 diabetes treatment is proven to be effective.
Remynd, a Germany-based medical research spinout from KU Leuven, has concluded a licence agreement with healthcare firm Novo Nordisk to develop its treatment for diabetes.
Remynd could receive as much as €350m ($413m) in research and milestone payments, as well as a royalty on any eventual sales.
The deal covers Remynd’s ReS39 diabetes treatment, which aims to induce greater insulin production within animals with type 1 and 2 diabetes. Diabetes is caused by insulin deficiency and impaired control of glucose levels.
Remynd is preparing ReS39 for pre-clinical trials, and hopes the drug could also help treat non-alcoholic fatty liver disease and certain metabolic conditions.
Spun out of KU Leuven in 2002, Remynd owns a screening platform to uncover remedies for protein-misfolding disorders such as Huntington’s or Alzheimer’s disease.
The spinout raised $637,000 in funding from undisclosed investors in 2010, according to deals database PitchBook.
Remynd has previously backed by KU Leuven and BNP Paribas Fortis, the Belgium-based arm of banking group BNP Paribas, as well as KU Leuven’s seed fund Gemma Frisius, Arkimedes, KBC and Blue Medical Investments, though dates could not be ascertained.
