(Bloomberg) -- Novo Nordisk A/S, maker of hit drugs Ozempic and Wegovy, signed its third research deal with a biotech backed by Flagship Pioneering, agreeing to pay as much as $600 million to develop next-generation obesity treatments.  

The project with Metaphore Biotechnologies aims to develop up to two medicines, the companies said on Thursday. Metaphore uses machine learning in an attempt to mimic interactions between molecules, Uli Stilz, head of the Novo Nordisk Bio Innovation Hub, said in the statement. 

Like Novo’s other projects with Flagship, the venture capital firm behind US vaccine maker Moderna Inc., the Metaphore partnership will focus on early research that’s far from reaching patients. The Danish drugmaker is trying to broaden its pipeline of experimental medicines in order to fend off rivals in the fast-growing field of obesity drugs. 

Obesity is becoming a worldwide problem with more than 800 million adults living with the condition, and several drug companies are competing to come up with effective and durable medicines to treat the condition. 

Read More: Here Are the Obesity Drug Hopefuls Vying to Unseat Lilly, Novo

Under the terms of the agreement, Novo may pay up to $600 million in upfront, development and commercial milestone payments, as well as tiered royalties on annual net sales of licensed products. It will also reimburse R&D costs and participate in a future financing round for Metaphore. 

©2024 Bloomberg L.P.