MannKind to Acquire V-Go® Insulin Delivery Device from Zealand Pharma for $10 Million

MannKind Corporation has entered into an agreement with Zealand Pharma to acquire V-Go® for $10 million, with additional sales-based milestones plus the cost of certain inventory. The acquisition of V-Go allows MannKind to expand its portfolio and strengthen its commitment to providing innovative mealtime diabetes solutions.

“MannKind is passionate about being a leader in mealtime control to address this unmet need within the diabetes community,” said Michael Castagna, PharmD, Chief Executive Officer of MannKind Corporation. “This acquisition strategically leverages our infrastructure in the diabetes space and positions MannKind’s endocrine business for additional growth.”

“This transaction is an important step forward in executing on the strategic changes we announced at the end of March, to find partners for our commercial products and refocus our priorities on R&D,” said Adam Steensberg, MD, Chief Executive Officer of Zealand Pharma. “We believe we have found the right partner to fully leverage the value of V-Go and ensure continued availability of the product by patients and prescribers.”

V-Go is a once-daily, wearable, insulin delivery device that helps provide blood sugar control for everyday lifestyles. Designed to be patient-friendly, V-Go is worn like a patch and eliminates the need for taking multiple daily shots.

The easy click-and-go mechanism of V-Go and its ability to be flexibly placed on your body each day aligns with our mission of providing products that allow patients living with diabetes to experience life without limits. V-Go joins our ultra rapid-acting inhaled insulin product, Afrezza®, in expanding MannKind’s portfolio of products that change the way diabetes is treated.

Alejandro Galindo, Executive Vice President, Endocrine Business Unit for MannKind Corporation

The acquisition of V-Go by MannKind is anticipated to close in May 2022, subject to the satisfaction of certain closing conditions.