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International Business Times

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Nanexa Stock Skyrockets More Than 100% After Signing Drug Deal With Wegovy Maker Novo Nordisk

Novo Novo Nordisk diabetes Obesity

Under the deal, Novo gets the right to use PharmaShell in as many as five development programs for peptide-based medicines targeting obesity, type 2 diabetes and other cardiometabolic diseases. (Credit: Sergei Gapon/AFP via Getty Images)

Shares of Swedish drug-delivery company Nanexa exploded higher Friday after the small biotech landed a licensing agreement worth as much as $1.33 billion with Novo Nordisk, the pharmaceutical heavyweight behind blockbuster obesity drugs Wegovy and Ozempic.

Nanexa shares surged more than 100% in Stockholm. the company announced Thursday evening that it had entered into a global exclusive licensing and collaboration agreement with Novo covering its PharmaShell drug-delivery technology.

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