Benzinga | Jun 16, 2021 09:30AM EDT

Novo Nordisk, Lumen Bioscience Collaborate For Oral Biologics For Cardiometabolic Diseases

* Privately-held Lumen Bioscience has entered into a research collaboration with Novo Nordisk A/S (NYSE:NVO) to evaluate the use of Lumen's spirulina-based drug development and manufacturing platform in Novo Nordisk's R&D activities within obesity and other metabolic disorders.

* The initial stages of the research collaboration will take place over approximately one year.

* Lumen and Novo Nordisk will jointly develop and evaluate the bioactivity of metabolically relevant molecules produced and delivered using spirulina.

* Financial terms were not disclosed.

* Price Action: NVO shares are down 0.20% at $84.40 during the market session on the last check Wednesday.