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Strongbridge sells rights for hormone deficiency test to Novo Nordisk

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Strongbridge sells rights for hormone deficiency test to Novo Nordisk

Strongbridge Biopharma PLC closed the sale of the U.S. and Canada rights to Macrilen to Novo Nordisk for $145 million up front.

Macrilen, or macimorelin, is approved by the U.S. Food and Drug Administration for diagnosing adult growth hormone deficiency. Strongbridge acquired the license to Macrilen in the U.S. and Canada from Aeterna Zentaris Inc. in January.

Under the deal, Novo Nordisk also bought 5.2 million ordinary shares of the Trevose, Penn.-based company at $7 per share for gross proceeds of $36.7 million. Strongbridge will also receive tiered royalties related to the sales of Macrilen through 2027.

Denmark-based Novo Nordisk will also leverage and fund Strongbridge's rare endocrine commercial field organization for Macrilen for up to three years.