Date: 2013-04-29
Type of information: Development agreement
Compound: new oral formulations of GLP-1 receptor agonists
Company: Emisphere Technologies (USA - NJ) Novo Nordisk (Denmark)
Therapeutic area: Metabolic diseases
Type agreement: development
licensing
Action mechanism:
Disease: type 2 diabetes
Details: * On April 29, 2013, Emisphere Technologies has announced that it has agreed with Novo Nordisk to amend the two companies\' Development and License Agreement to develop and commercialize oral formulations of Novo Nordisk\'s proprietary GLP-1 receptor agonists, which have the potential of treating Type 2 diabetes, using Emisphere\'s Eligen® technology. Under the terms of the amendment, Novo Nordisk will pay to Emisphere $10 million as a prepayment of development milestone payments that would have otherwise become payable to Emisphere under the Oral GLP-1 Development Agreement upon the initiation of Phase II and Phase III testing of an oral GLP-1 product by Novo Nordisk, in exchange for a reduction in the rate of potential future royalty payments arising from future sales of an oral GLP-1 product developed under the Oral GLP-1 Development Agreement.
Under the terms of the Oral GLP-1 Development Agreement, Emisphere could still receive product development and sales milestone payments, in addition to potential future royalty payments. The license agreement was first signed in 2008, and Novo Nordisk is currently conducting Phase I trials for its Oral GLP-1 product candidate.
Financial terms:
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