Petrelintide, currently in Phase 2 clinical development, is a long-acting amylin analog suitable for once-weekly subcutaneous administration. The available clinical data suggests its potential to become a best-in-class amylin monotherapy, with improved tolerability compared to current weight management treatments and to expand into adjacent indications, the companies said in a statement.

As a part of this agreement, Zealand Pharma and Roche will co-commercialize petrelintide in the US and Europe, whereas Roche will obtain exclusive rights to commercialization in the rest of the world. Roche will be responsible for commercial manufacturing and supply.

Zealand Pharma will receive upfront payments of $1.65 billion, including $1.4 billion due upon closing and $250 million in the first two years of the collaboration. Zealand Pharma is also eligible for development milestones of $1.2 billion primarily linked to initiation of Phase 3 trials with petrelintide monotherapy and sales-based milestones of $2.4 billion, for a total consideration to Zealand Pharma of up to $5.3 billion.

Profits and losses for petrelintide and petrelintide/CT-388 will be shared on a 50/50 basis in the US and Europe, and Zealand Pharma is eligible to receive royalties on net sales in the rest of the world.

Zealand Pharma will pay Roche $350 million, offsettable against milestone payments, for the petrelintide/CT-388 fixed-dose combination product or next-generation petrelintide combination products being pursued under the collaboration agreement.

According to Roche, the combination of petrelintide with its dual GLP-1/GIP receptor agonist CT-388 will further strengthen and expand the Swiss company’s pipeline in the field of cardiovascular, renal, and metabolic (CVRM) diseases.

Teresa Graham, CEO of Roche Pharmaceuticals, commented: “We share the vision to develop petrelintide as a future foundational therapy. By combining petrelintide with our pharmaceuticals portfolio and with our diagnostics expertise in cardiovascular and metabolic diseases, we are aiming to transform the standard of care and positively impact patients’ lives.”

Adam Steensberg, Zealand Pharma’s CEO, added: “We strongly believe that petrelintide holds potential as a foundational therapy for weight management, addressing unmet medical needs among the majority of people living with overweight and obesity, both as stand-alone therapy and in combination with other agents.”

The closing of the transaction, which is subject to regulatory approvals and other customary closing conditions, is expected in the second quarter of 2025.