Emisphere Technologies (EMIS.OB) Extends Exclusive Agreement with Novo Nordisk (NVO) for Diabetes Treatment

By @ibtimes on

Emisphere Technologies Inc. and Novo Nordisk A/S today announced their extended partnership to develop and commercialize oral formulations of Novo Nordisk’s insulins, which have the potential of treating diabetes, using Emisphere’s Eligen® technology.

The exclusive development and license agreement is in line with Novo Nordisk’s overall dedication to diabetes research.

“This is an encouraging agreement on a promising technology for oral administration of proteins. We are delighted to continue working with Emisphere and their Eligen® Technology. It fits very well with Novo Nordisk’s strategy within diabetes research,” Peter Kurtzhals, senior vice president of Diabetes Research Unit at Novo Nordisk stated in the press release.

The insulin agreement includes $57.5 million in potential product development. Emisphere will receive $5 million upon signing, as well as sales milestone payments and royalties on sales.

Today’s announced agreement is the second license agreement between the two companies. The first agreement was signed for the development of oral formulations of GLP-1 receptor agonists in 2008 with a potential drug currently in a phase 1 clinical trial.

Michael V. Novinski, president and CEO of Emisphere said the extended partnership has several important points for Emisphere.

“To date, our collaboration with Novo Nordisk has been very productive, and today’s agreement has the potential to offer significant new solutions to millions of people with diabetes worldwide. Finally, it also serves to further validate our Eligen® Technology,” Novinski stated.

For more information visit www.novonordisk.com or www.emisphere.com

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