Novo sells programs to TransTech

HIGH POINT, N.C. Novo Nordisk has sold the rights to three treatment programs under development for metabolic disorders to TransTech Pharma, according to published reports.

The company decided to sell the programs after deciding last January to focus on protein-based pharmaceuticals. Novo chose TransTech because of the successful past partnerships TransTech had with other companies and because Novo is invested in TransTech.

“This allows us to focus our research and development efforts on therapeutic proteins while keeping a financial stake in the programs as a TransTech shareholder,” said Novo Nordisk chief scientific officer Mads Krogsgaard Thomsen.

TransTech made a one-time payment to Novo Nordisk for the rights to the drugs, but the amount was not disclosed.