(October 8, 2026) by Nick Paul Taylor

Zealand Pharma is paying Generate Biomedicines $30 million upfront to collaborate on multispecific drug candidates for metabolic diseases. Milestones could bring the total value of the deal above $1 billion.

Obesity and other metabolic diseases form the backbone of Zealand’s pipeline, which includes weight-loss drug candidates partnered with Boehringer Ingelheim and Roche. The pipeline is built on Zealand’s long history of peptide R&D, but the Danish drugmaker has expanded into other modalities in the past year through partnerships with OTR Therapeutics and now Generate.