Zealand Pharma Reports Strong First Half of 2024, Fueled by Obesity Portfolio and Capital Raise

Danish biotechnology company Zealand Pharma has reported impressive financial results for the first half of 2024, underscoring the strength of its R&D pipeline, particularly in the area of obesity treatment. petrelintide, the company's long-acting emelin analogue, demonstrated promising weight loss in a Phase 1b clinical trial, with an impressive 8.6% average weight loss after 16 weeks of treatment.

The achievement is backed by a substantial financing round of DKR 7 billion (US $1 billion), one of the largest in European history, which will provide accelerated funding for the development plans of a wholly-owned obesity treatment asset by Zealand Inc. At the same time, the company is actively pursuing collaboration opportunities related to these promising drug candidates.

In addition to the obesity treatment area, New Zealand also announced positive results from its rare disease program, with Zegalogue® (Darcy Rougagan Injection) approved in Europe for the treatment of severe hypoglycemia. The company expects to receive U.S. approval for its rare disease program in the coming months.

Adam Steensberg, CEO of Zealand Pharma, expressed great excitement about the progress the company has made, commenting: "I am very pleased with the results for the first half of 2024, which includes excellent data from our obesity pipeline. In particular, the 16-week clinical data from petrelintide further strengthens our confidence that Emlyn analoges are expected to be an important option for future weight loss treatments."

With a strong financial foundation and a promising R&D pipeline, Zealand Pharma is laying a strong foundation for continued growth and success in the years ahead.