Novo Nordisk A/S and Staten Biotechnology B.V. entered a collaboration deal worth up to €430 million to develop therapies for hypertriglyceridemia, characterized by elevated levels of fatty molecules in the blood and often seen in people with diabetes and in obesity.

Novo Nordisk will fund the research and development of Staten's lead asset STT-5058 for treating dyslipidemia, of which hypertriglyceridemia is one form. Dyslipidemia increases a person's risk for heart attacks and other cardiac and circulatory problems.

Novo Nordisk will have the right to acquire Netherlands-based Staten and gain global rights to STT-5058 under the deal. Staten's shareholders are also eligible for up to €430 million in signing and exercise fees, research and development funding and milestone payments.

"Novo Nordisk is joining forces with Staten Biotechnology at an exciting time for us, with the company's lead compound moving towards its first clinical trial, aiming to address the residual cardiovascular risk in patients with hypertriglyceridaemia," Hilde Steineger, CEO of Staten Biotechnology, said in the news release.

Marcus Schindler, senior vice president for global drug discovery at Denmark-based Novo, said the deal was a key step in executing the company's strategy to expand into cardiovascular diseases.