Zealand Pharma Pays $1.2 Billion for Generate Biomedicines AI-Designed Multispecific Proteins to Extend Obesity Pipeline

Zealand Pharma is paying $1.2 billion to bring Generate Biomedicines' AI-designed multispecific proteins into its obesity pipeline, adding a new modality alongside petrelintide, a long-acting amylin analogue, and survodutide, a glucagon/GLP-1 dual receptor agonist, both in Phase III. The Danish biotech's move comes after recent Phase III data for both candidates fell short of analyst expectations, putting pressure on its shares.