Zealand Pharma: buys Canadian biotech firm

(CercleFinance.com) - Danish biotech firm Zealand Pharma has announced the acquisition of Encycle Therapeutics, a private Toronto-based company operating a platform technology that enables synthesis of peptides exhibiting enhanced drug-like properties.


Zealand said that the acquisition targets a pre-clinical lead asset that complements its focus on developing next-generation peptide therapeutics for gastrointestinal diseases.

The lead asset, ET3764, is being developed as an orally-delivered peptide drug to target receptors which are involved in the pathogenesis of inflammatory bowel disease (IBD).

The agreement provides for a total potential deal value of up to 80 million dollars, Zealand said, with a series of contingent payments according to future development, regulatory and commercial milestones.

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