Generate Biomedicines To Receive $30M Upfront, Up To $1.2B In Milestones And Tiered Royalties Under Zealand Pharma Collaboration

Generate Biomedicines Inc. (NASDAQ:GENB) ("Generate") today announced a multi-target strategic collaboration with Zealand Pharma A/S (NASDAQ:ZEAL), a biotechnology company transforming the future of metabolic health. Under the collaboration, the companies intend to design and develop multispecific protein therapeutics for obesity and other metabolic diseases using The Generate Platform, which integrates generative AI with high-throughput experimental validation.

About the Collaboration

Under the terms of the agreement, Generate will use its proprietary generative AI platform to lead research through lead-candidate selection. Zealand Pharma will assume responsibility for subsequent clinical development, regulatory submissions, and worldwide commercialization.

For the two initial programs, Generate will receive $30 million upfront and up to $35 million in early preclinical milestones, and is eligible for total milestones of nearly $1.2 billion, including potential development, regulatory, and commercial milestones, plus tiered royalties on future worldwide net sales of any commercialized products resulting from the collaboration.

Ropes & Gray LLP acted as legal advisor to Generate, and Cooley LLP acted as legal advisor to Zealand Pharma.