Ascendis Pharma Regains Rights to Weight-Loss Technology; Share Buyback Approved

Dow Jones

3 hours ago

Ascendis Pharma regained exclusive rights to develop its TransCon technology to treat obesity after ending its partnership with Novo Nordisk.

The Danish company said Monday it can develop, manufacture and commercialize TransCon technology-based products in metabolic and cardiovascular diseases, including obesity.

The regaining of the rights follows a termination of the collaboration agreement between Ascendis and Novo Nordisk, which was announced in November 2024. Following termination, all licenses granted to Novo Nordisk, including once-monthly TransCon semaglutide, revert to Ascendis.

Neither party has any financial obligation to the other. In the original deal, Ascendis was eligible to receive up to $285 million in payments from upfront, development and regulatory milestones.

Ascendis plans to initiate multiple programs in both rare and large metabolic and cardiovascular indications. The new programs include advancing TransCon semaglutide as a potential treatment for obesity and Type 2 diabetes.

Separately, the company said its board authorized a $400 million buyback.

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