Flagship's Metaphore secures $600M Novo deal for improved obesity drugs

Novo Nordisk is intensifying its efforts to develop new obesity treatments through a promising partnership with Flagship Pioneering start-up Metaphore Biotechnologies. This collaboration aims to create up to two multitarget therapeutics using Metaphore's innovative MIMIC platform. The deal, potentially worth up to $600 million in upfront and milestone payments, plus royalties, seeks to leverage Metaphore's machine learning-driven molecular mimicry technology to produce potent, long-lasting medicines targeting the GLP-1 receptor and associated obesity pathways.

Metaphore's platform is designed to accurately replicate the interactions between molecules by capturing their natural dynamics at the interface, which could result in therapies that require less frequent dosing. Uli Stilz, head of Novo Nordisk's Bio Innovation Hub, explained that the platform systematically isolates pharmacophores – the crucial features where a drug binds to its target – and creates "molecular mimics." These mimics are then enhanced with specific therapeutic properties such as function, selectivity, and multi-targeting capabilities.

This new venture builds on Novo Nordisk's strategic alliance with Flagship Pioneering, established in 2022. It represents the third collaboration under this partnership, following previous agreements with Cellarity and Omega Therapeutics earlier this year to develop new treatments for obesity and metabolic dysfunction-associated steatohepatitis (MASH).

Under the current agreement, Novo Nordisk and Metaphore will focus on advancing the programs to the preclinical development stage. After this phase, Novo Nordisk may choose to move these candidates into clinical testing. The partnership includes up to $600 million in upfront, development, and commercial milestone payments, along with potential royalties shared with Pioneering Medicines, Flagship's internal drug development division. Additionally, Novo Nordisk will cover research costs and participate in a future financing round for Metaphore.

Metaphore Biotechnologies, which was launched in 2023 with $50 million from Flagship, has not disclosed further details about the upcoming financing round. The burgeoning biotech company is optimistic about its collaboration with Novo Nordisk, especially given the escalating global obesity crisis, with over 800 million adults affected.

Novo Nordisk, a leader in the obesity treatment market with its well-known drug Wegovy (semaglutide), continues to innovate in this space. The company is developing a daily oral version of Wegovy and CagriSema, a combination of semaglutide and amylin analogue cagrilintide, administered as a once-weekly injection. Both treatments are currently in Phase III trials.

Furthermore, Novo Nordisk is working on once-daily oral and once-weekly subcutaneous forms of amycretin, a long-acting co-agonist of GLP-1 and amylin. These efforts highlight Novo Nordisk's commitment to expanding its obesity treatment portfolio and maintaining its leadership position in the market.

Overall, the collaboration between Novo Nordisk and Metaphore Biotechnologies represents a significant step forward in the quest to develop more effective and long-lasting obesity treatments, leveraging advanced molecular mimicry technology to address a critical global health issue.