On 24 September 2026, Nanexa announced that it has entered into an exclusive global licence and collaboration agreement with Novo Nordisk for the development of long-acting injectable formulations of Novo Nordisk’s products using Nanexa’s PharmaShell® drug delivery platform. The Novo products to be developed have not been disclosed but will target type 2 diabetes, obesity and other cardiometabolic diseases.
Under the agreement, Denmark-based Novo will receive a global licence to use Sweden-based Nanexa’s PharmaShell® technology platform for up to five development programs. The long-acting injectable formulations will be developed with monthly and quarterly frequency administration targets.
Nanexa will receive EUR615 million for upfront, development and regulatory milestones. It is eligible to receive an additional EUR550 million subject to sales milestones, making the total value of the deal up to EUR1.165 billion. Additionally, Nanexa is eligible to receive low single-digit royalties on global net sales of products developed under the agreement.
Nanexa’s PharmaShell® technology involves encapsulation of an active pharmaceutical ingredient with an ultra-thin coating using Atomic Layer Deposition. The coating can be tailored to achieve precise, controlled and sustained release of the active pharmaceutical ingredient.
In December 2025, Nanexa entered into a licence and option agreement with Moderna for the use of its PharmaShell® technology for a selected compound, with options for up to four additional compounds. Nanexa received an upfront payment of USD3 million, with up to USD500 million in potential milestone payments, as well as tiered single-digit royalties on future product sales.