The newly renamed Novo has terminated its metabolic and cardiovascular disease collaboration with Ascendis Pharma (Nasdaq: ASND), returning worldwide rights to TransCon technology-based programs including once-monthly TransCon Semaglutide, as per an announcement from Ascendis. The decision ends a partnership signed in November 2024 before any program advanced into Phase II, while leaving Ascendis free to develop, manufacture, and commercialize the assets independently.
Neither company disclosed a reason for Novo's exit, and neither will retain further financial obligations to the other. Ascendis said it plans to initiate multiple metabolic and cardiovascular programs following the rights reversion.
Under the terms of the 2024 deal, Ascendis granted Novo an exclusive worldwide license to the TransCon platform for metabolic and cardiovascular indications. That deal included a USD 100 million upfront payment and up to USD 285 million in combined upfront, development, and regulatory milestone payments for the lead program, plus up to USD 77.5 million per additional program and tiered royalties on net sales. Under the original structure, Ascendis was responsible for early development of candidates, while Novo bore clinical, regulatory, and commercialization costs.
The collaboration lasted less than two years without advancing any program to Phase II. Novo's decision to exit returns to Ascendis the worldwide rights it had licensed, including TransCon Semaglutide, which had been designated as the lead program targeting obesity and type 2 diabetes.