Emisphere, Novo Nordisk amend Oral GLP-1 development, license agreement

Nordisk’s GLP-1 receptor agonists have shown to leverage Emisphere’s Eligen technology to treat type 2 diabetes.

Emisphere president and chief executive officer Alan Rubino said, "The accelerated milestone payment will significantly assist our efforts to expedite key growth initiatives for the company."

As per the terms of the amended deal, Emisphere will receive $10m as a prepayment of development milestone payments from Novo Nordisk.

Emisphere is eligible for product development and sales milestone payments along with potential future royalty payments.

Both the companies initially signed the licensing deal in 2008.

At present, Phase I trials for its Oral GLP-1 product candidate are being conducted by Novo Nordisk.