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Home Industry News Novo Nordisk signs collaboration agreement

Novo Nordisk signs collaboration agreement

22nd December 2008

Novo Nordisk has signed a collaboration agreement with biotechnology company VLST Corporation.

As a result of the deal, the organisations will partner using VLST’s technology platform to develop therapeutic targets for autoimmune and inflammatory disorders.

Under the agreement, Novo Nordisk will also make an equity investment on its associate, with an upfront payment for the rights generated in the product totalling $12 million (8.07 million pounds).

The company said it will make certain additional milestone payments.

Earlier this month, Novo Nordisk added it had received a letter from regulators, regarding its once-weekly version of liraglutide.

The letter relates to the Danish company’s experimental product NN9535, which is currently in clinical trials, a spokesman for the organisation commented.

Novo Nordick went on to add there was nothing “surprising” in the move and it would take the new requirements into account when planning further tests.

Headquartered in Denmark, the company has international production facilities in six countries and affiliates or offices in 80 nations.

The organisation’s product areas include diabetes care, haemostasis management, growth hormone therapy and hormone replacement therapy.

As of June this year, the company employed 26,553 people – of which 49 per cent were located in Denmark and 3,473 were in the rest of Europe.

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