Emisphere Techn (EMIS) In License Agreement With Novo Nordisk
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Emisphere Technologies, Inc. (Nasdaq: EMIS) and Novo Nordisk A/S (NYSE: NVO) entered into an exclusive 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.
The agreement includes at least $87 million in product development and sales milestone payments to Emisphere, of which $10 million will be the minimum first year payment, as well as royalties on sales. The agreement also provides Novo Nordisk with the option to develop oral formulations of Novo Nordisk compounds other than GLP-1 receptor agonists using Emisphere's proprietary carrier technology.
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