Shares in Nanexa soar on €1bn Novo Nordisk deal

(Sharecast News) - Shares in Nanexa more than doubled on Friday after the loss-making Swedish start-up signed deal worth more than €1bn with Novo Nordisk.

The Novo Nordisk, the manufacturer of Ozempic and Wegovy, has signed an exclusive licence to use Nanexa's proprietary drug delivery technology PharmaShell platform for certain therapeutic peptide drugs for various indications, including obesity and type 2 diabetes.

Under the terms of the deal, Novo Nordisk will lead the global development and commercialisation, with Nanexa receiving upfront and milestone payments totalling up to €1.165bn. The agreement also allows for low single-digit royalties on future product sales.

As at 1000 BST, the Stockholm-listed stock had soared 131%, leaving it trading at the highest level in more than five years.

David Westberg, chief executive, said: "We are very excited about and proud of this licence agreement with Novo Nordisk, and look forward to working with them to successfully develop products with less frequent dosing in obesity and type 2 diabetes.

"Following our licence and option agreement with [mRNA vaccine specialist] Moderna in 2025 this agreement further strengthens the external validation of PharmaShell as a broadly application drug delivery platform."

Founded in 2007, Nanexa is currently loss-making. In the year to 31 December 2025, it posted an operating loss of SEK8.8m (£670,000) on net sales of SEK36.1m.