Novo abandons $285 million partnership with Ascendis for monthly GLP-1 obesity drug

Novo Nordisk, which recently rebranded, has terminated a licensing agreement with Ascendis Pharma that was originally valued at up to $285 million.

The collaboration, signed in November 2024, was intended to use Ascendis’ TransCon technology to create a once‑monthly GLP‑1 receptor agonist for obesity and diabetes.

Under the original terms, Ascendis would have received upfront, development and regulatory milestone payments, plus royalties, with additional milestones possible if the scope expanded to other metabolic or cardiovascular candidates.

The termination comes less than two years after the deal was announced, marking a setback for Novo’s rebranding effort and for Ascendis’ pipeline expectations.