Nanexa announces NEX-22 project - ABG

NEX-22: Liraglutide for type 2 diabetes (T2D)

Liraglutide (Novo’s Victoza) DKK 15bn in 2021

Preclinical studies ongoing, clinical trial expected 2023

Nanexa announces liraglutide in T2D as the NEX-22 project
Nanexa today announced the chosen compound and indication for the for the 3rd proprietary project, NEX-22. The company has decided to develop a long-acting formulation of liraglutide, a drug for type 2 diabetes (T2D) with PharmaShell. Liraglutide is a GLP-1 analogue and is an important cornerstone in the current treatment of the disease. Currently, patients receiving liraglutide, must take one daily injection of the drug. By using its PharmaShell technology, Nanexa will aim to reduce this number to only one injection per month. Globally, an estimated 415m adults between 20 and 79 have T2D, and approximately 50% of these do not achieve adequate glycemic control, partially due to poor adherence to prescribed treatments.

Novo Nordisk Victoza sold DKK 15bn in 2021, off patent 2023
Liraglutide, branded as Victoza by Novo Nordisk, generated DKK 15bn in 2021 and will go off patent by the end of 2023, when Teva Pharmaceutical is supposed to launch the first generic of the drug. According to the company the GLP-1 analogue market is expected to grow at about 10% year over year over the period 2022-2029. The total GLP-1 analogue market across all approved drugs is generally estimated to yield annual sales >USD 10bn.

Clinical development expected to start in 2023
Nanexa has already started and will continue the preclinical development in the coming quarters aiming to move to clinical development during 2023. Läs mer på ABG Sundal Collier

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/nanexa/Equity-research/2022/9/nanexa---nanexa-announces-nex-22-project/