Novo Nordisk announces license agreement with Merrion

Novo Nordisk has announced the signing of a license agreement with Merrion.

The deal with the company will see it receiving up to $58 million (40 million pounds) for the commercialisation of oral formulations, based on Novo Nordisk’s proprietary Gipet technology.

It is the second agreement between the two organisations, following a partnership in November 2008 which surrounded oral insulin analogues.

John Lynch, chief executive officer of Merrion, said the deal builds on the original agreement.

He added: “We believe that this development further demonstrates the potential for long-term partnership between our two companies and also enhances our capacity to develop our other products and technologies.”

Mr Lynch went on to note the partnership was “another step” in Novo Nordisk’s research efforts.

Last month, the company said it signed a license agreement with VLST Corporation.

The deal will see the collaboration developing targets in the development of therapies, for the treatment of autoimmune and inflammatory disorders.