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news.Merrion Pharmaceuticals has entered into a collaboration and option agreement with Novo Nordisk, under which they will evaluate the ability of Merrion Pharma's patented GIPET technology to boost the oral bioavailability of an undisclosed proprietary compound.
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Merrion claims that its patented drug delivery technology, GIPET, is supported by a large database reflecting 10 years’ research and development by drug delivery experts and 21 clinical studies conducted on a broad range of drug types.
Following the feasibility studies, Novo Nordisk will have the option to enter into a further licensing agreement for Merrion Pharma ‘s GIPET technology.
The financial terms of a possible future licensing agreement have been pre-agreed.
As part of the agreement Merrion Pharma has granted Novo Nordisk a warrant to acquire ordinary shares of up to EUR1,500,000 in Merrion Pharma at 21 December’s closing share price (EUR3.00).
The warrant will be exercisable for 20 business days commencing on the day following the signing of a license agreement.
Merrion Pharma CEO John Lynch said the agreement further strengthens the links between the two companies following the license agreements for oral GLP-1 and Insulin respectively.