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30 August 2023

Moalem Weitemeyer advised Embark Biotech and its shareholders in connection with the sale of Embark Biotech's main program, EMB1, to Novo Nordisk for a consideration of up to EUR 471m in combined cash and potential development, regulatory and commercial milestone payments.

As part of the sale, Embark Biotech and Novo Nordisk also enter into a 3-year research and development collaboration to discover and develop new medications for the treatment of obesity and related complications which grants Novo Nordisk the option to acquire and further develop specific programs based on Embark Biotech’s early discovery for multiple indications, including obesity and type 2 diabetes.

Novo Nordisk is a global market-leading healthcare company with more than 90 years of innovation and leadership in discovering and developing treatment for serious chronic diseases.

Embark Biotech is an early-stage biotech company focused on developing novel treatments with clear unmet needs within cardiometabolic and hyperphagic (i.e. food-craving) indications.

A big thank you particularly to Casper Tind Hansen and Mads Tang Christensen from Embark Biotech and to opposing counsels from Gorrissen Federspiel for a good cooperation.

The press release can be found here (in Danish).