Under the terms of the agreement, Versanis shareholders could receive $1.93 billion in cash, which includes an upfront payment and subsequent payments upon achievement of certain development and sales milestones.

Versanis's lead drug, bimagrumab, is being evaluated in a mid-stage trial alone as well as in combination with Novo Nordisk's Wegovy or semaglutide in adults who are overweight or obese.