Danish pharmaceutical company Novo Nordisk, together with Dutch investor BioGeneration Ventures, is pumping fresh capital into Tanai Terapeuthics, a young spin-off from the Flanders Institute for Biotechnology (VIB) that is working on a new oral drug against obesity. Novo Nordisk has become the most valuable company in Europe thanks to the success of diabetes drug Ozempic and obesity drug Wegovy.
Tanai Therapeutics did not share financial details in a press release on Thursday. Together with existing investors Bio Ventures, Qbic and VIB, a total of more than 6 million euros in capital has now been raised.
Tanai Therapeutics was founded in 2023. The spin-off builds on research from the VIB-UGent Center for Inflammation Research. The additional resources from Novo Nordisk and BioGeneration Ventures will be used to further develop the candidate drug against obesity.
Novo Nordisk calls it a “promising new approach in the treatment of obesity”. This is the Danish company’s first equity investment through its Science2Medicine iNNvest investment program.