On December 11, 2025, OTR Therapeutics, a biotechnology company dedicated to transforming early-stage innovations into globally impactful therapies for unmet medical needs, and Zealand Pharma A/S (NASDAQ: ZEAL) (CVR-no. 20045078), a biotechnology company transforming the future of metabolic health, announced a multi-program strategic collaboration and license agreement to discover and develop novel therapeutics for metabolic diseases.
The collaboration brings together Zealand Pharma’s deep expertise in obesity and metabolic health with OTR Therapeutics’proprietary R&D platform, scientific rigor, and unique strengths in speed, efficiency, and quality - supported by strong ties to regional R&D networks - to develop transformative treatment options for millions of people living with metabolic diseases. By pursuing next-generation therapeutics, we will meaningfully expand treatment options.
Under the terms of the agreement, OTR Therapeutics and Zealand Pharma will co-discover and co-develop innovative therapies for multiple targets in metabolic diseases. OTR Therapeutics will leverage its proprietary discovery platform to lead and conduct research and preclinical development. Zealand Pharma will assume responsibility for clinical development, regulatory submissions, and commercialization worldwide.
OTR Therapeutics will receive an initial upfront payment of USD 20 million, which may increase to USD 30 million under certain preagreed conditions, and is eligible for potential pre-specified preclinical, development, regulatory, and commercial milestone payments. The potential total consideration is up to USD ~2.5 billion, with the majority representing commercial milestones. OTR Therapeutics is also eligible to receive tiered single-digit royalties on worldwide net sales of any commercialized products resulting from the collaboration.
OTR Therapeutics, launched in March 2025, is a biotechnology company dedicated to transforming earlystage innovations into globally impactful therapies for critical diseases with high unmet medical needs. With a strategic focus on oncology, immunology and inflammation, and cardiometabolic diseases, OTR Therapeutics discovers and acquires distinctive assets in preclinical and early clinical stages, and accelerates their development into differentiated, clinically impactful treatments through their R&D hub built for speed, quality and efficiency. By combining scientific rigor with agile partnerships, OTR Therapeutics delivers exceptional value to their partners and patients worldwide. From their advanced R&D center in Shanghai’s Zhangjiang Hi-Tech Park, OTR Therapeutics actively collaborates with a network of global partners across the US, Europe, and Asia. For more information about OTR Therapeutics, please visit www.otr-tx.com
Fangda Partners provided comprehensive legal services to OTR Therapeutics in this transaction. The team was led by corporate partners Henry HE, Josh SHI, and Belle WANG, who were responsible for reviewing, negotiating, and revising the transaction documents and agreements. The team also included associates Mingjun Zhao and Tianhong Wang. The Fangda team provided robust support for the transaction, assisting more Chinese biopharma companies in exploring the international market.
