Generate Biomedicines Signs Zealand Deal Worth up to $1.2 Billion

Massachusetts-based Generate Biomedicines has entered a drug discovery collaboration with Copenhagen's Zealand Pharma that could be worth up to $1.2 billion, according to Life Science Sweden. The agreement was announced during the week of October 12, 2026.

Generate will receive $30 million initially and is eligible for up to $35 million in preclinical milestone payments, with total milestones reaching $1.2 billion.

Under the agreement, Generate will apply its proprietary artificial intelligence system, The Generate Platform, to run research through lead-candidate selection. Zealand Pharma will then take over clinical development, regulatory filings and commercialization worldwide.

The partnership pairs Zealand Pharma's work in metabolic health with Generate's computational drug design. Zealand Pharma's portfolio consists mainly of peptide-based drugs, and the collaboration extends its work into protein-based therapeutics.

Utpal Singh, chief scientific officer at Zealand Pharma, said in a statement that the deal "expands our toolbox to include proteins," adding to the company's existing small-molecule and peptide capabilities.

Zealand Pharma is headquartered in Copenhagen and operates a division in Massachusetts, where Generate Biomedicines is also based.

This story was first reported by lifesciencesweden.se.