NMTR - 9 Meters Biopharma acquires anti-GIP monoclonal antibody from Lobesity

9 Meters Biopharma (NMTR) has acquired global development rights to a proprietary and highly specific humanized monoclonal antibody (mAb), LOB-0136 (now known as NM-136) that targets glucose-dependent insulinotropic polypeptide ((GIP)), in addition to related intellectual property from privately-held Lobesity.Pursuant to the agreement, 9 Meters will acquire LOB-0136, related analogues and all related intellectual property and other related assets of Lobesity for a combination of 40% cash and 60% equity consideration in the form of a $5M upfront payment plus contingent payments including regulatory and clinical milestone payments totaling $45.5M, global sales-related milestone payments up to $50M and, a mid-single digit royalty on worldwide net sales. 9 Meters plans to continue the manufacturing optimization and IND-enabling studies, as well as conduct a clinical proof-of-concept study in PWS in 2023.

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9 Meters Biopharma acquires anti-GIP monoclonal antibody from Lobesity