aibioOPKO Health buys 3,685,226 Entera Bio shares at $2.17 in obesity collaboration
The two companies will hold 60% and 40% ownership interests in an oral GLP-1/glucagon program. Entera says the proceeds will fund its 40% share through Phase 1.
Key facts
- Companies
- Entera Bio Ltd. (NASDAQ: ENTX), OPKO HEALTH, INC. (NASDAQ: OPK)
- News type
- Financings
- Primary source
- Entera Bio Ltd. 8-K (2025-03-17)
Entera Bio Ltd. (Nasdaq: ENTX) and OPKO Health, Inc. (NASDAQ: OPK) entered into a collaboration and license agreement on March 17, 2025 to advance an oral GLP-1/glucagon peptide tablet for obesity and metabolic disorders into the clinic. The program combines OPKO's long-acting oxyntomodulin analog OPK-88006 with Entera's N-Tab technology. The companies expect to file an Investigational New Drug application with the FDA later in 2025.
OPKO and Entera will hold 60% and 40% ownership interests in the program and bear 60% and 40% of development costs, respectively.
When the agreement was signed, OPKO purchased 3,685,226 ordinary shares of Entera at $2.17 per share. Entera agreed to use the proceeds to fund its 40% share of costs through Phase 1. After Phase 1, Entera can keep funding its 40% share to maintain its interest. If it opts out, Entera keeps a 15% ownership interest in the Oral OXM program, and OPKO keeps 85% and takes on development and funding.
Entera's release lists its ability to continue as a going concern absent access to sources of liquidity among the factors that could cause actual results to differ from its forward-looking statements.