Collaboration with Boehringer Ingelheim

Zealand has a long-term and productive partnership with Boehringer Ingelheim developing two molecules targeting type 2 diabetes and/or obesity.

The first collaboration began in 2011 and in 2014, a second partnership agreement was signed on a different target. During our collaboration, we have invested time and effort in the discovery and development of a clinical lead candidates.

The 2011 collaboration covers dual-acting GLP-1/glucagon molecules and
included a clinical lead molecule ZP2929. At the same time as taking this molecule into the clinic, significant preclinical work was put into the
development of candidates.

In 2016, Boehringer Ingelheim selected a new clinical lead and
announced that it planned to initiate a Phase 1 trial with this molecule in 2017. All rights to ZP2929 were returned to Zealand.

The 2014 collaboration covers a novel biological target and, in 2016, Boehringer
Ingelheim selected a clinical lead with potential in diabetes and/or obesity which it also planned to enter Phase 1 clinical testing in 2017.

Terms of the agreement with Boehringer Ingelheim

Under the terms of the agreement, Boehringer Ingelheim funds all research, development and commercialization. Depending on the achievement of pre-defined milestones, Zealand is eligible to receive up to EUR 376 million (up to EUR 365 million are outstanding) on the lead GGDA therapeutic candidate dependent on predefined development, regulatory and commercial milestones being met, and may receive additional milestone payments if other products are advanced through development under the collaboration. Zealand is entitled to tiered royalties ranging from high single to low double digit percentages on Boehringer Ingelheim’s sales of all products stemming from the collaboration. Zealand retains co-commercialization rights in Scandinavia.