July 12, 2021, 12:46 p.m. EDT

Prothena sells ATTR amyloidosis portfolio to Novo Nordisk for up to $1.2 billion

Shares of Prothena Corp. Plc (NAS:PRTA) were up 1.3% in premarket trading on Monday after the company announced a deal to sell its ATTR amyloidosis portfolio to Novo Nordisk (CSE:DK:NOVO.B) in a $100 million deal that is worth up to $1.2 billion, based on milestones. ATTR amyloidosis is a rare disease that can cause a buildup of amyloid deposits in the body. One of the therapies in the portfolio is an experimental monoclonal antibody drug that has completed a Phase 1, open-label clinical trial. Prothena's stock has soared 393.2% so far this year, while the S&P 500 (S&P:SPX) is up 16.3%.

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