Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - EMISPHERE TECHNOLOGIES INC | b83861e8vk.htm |
| EX-10.1 - EX-10.1 - EMISPHERE TECHNOLOGIES INC | b83861exv10w1.htm |
Exhibit 99.1
|
 |
NOVO NORDISK A/S AND EMISPHERE TECHNOLOGIES, INC.
ANNOUNCE LICENSE AGREEMENT TO DEVELOP
ORAL FORMULATION OF INSULIN FOR DIABETES
ANNOUNCE LICENSE AGREEMENT TO DEVELOP
ORAL FORMULATION OF INSULIN FOR DIABETES
CEDAR KNOLLS, NJ, December 21, 2010 — Emisphere Technologies, Inc. (OTC BB: EMIS) and Novo
Nordisk A/S (NYSE: NVO) today announced that they have entered into an exclusive Development and
License Agreement to develop and commercialize oral formulations of Novo Nordisk’s insulins, which
have the potential of treating diabetes, using Emisphere’s Eligen® Technology. This is
the second license agreement between the two companies. The first agreement, for the development of
oral formulations of GLP-1 receptor agonists, was signed in June 2008, with a potential drug
currently in a Phase I clinical trial.
The Insulin agreement includes $57.5 million in potential product development and sales milestone
payments to Emisphere, of which $5 million will be payable upon signing, as well as royalties on
sales. Further financial details of the agreement were not made public.
“This is an encouraging agreement on a promising technology for oral administration of
proteins. We are delighted to continue working with Emisphere and their Eligen®
Technology. It fits very well with Novo Nordisk’s strategy within diabetes research”, said Peter
Kurtzhals, Senior Vice President, Diabetes Research Unit at Novo Nordisk.
“This extended partnership with Novo Nordisk is important for Emisphere for several reasons, said
Michael V. Novinski, President and Chief Executive Officer of Emisphere. To date, our collaboration
with Novo Nordisk has been productive, and today’s agreement has the potential to offer significant
new solutions to millions of people with diabetes worldwide. Finally, it also serves to further
validate our Eligen® Technology.”
Emisphere’s broad-based drug delivery technology platform, known as the Eligen®
Technology, uses proprietary, synthetic chemical compounds, known as Emisphere delivery agents,
sometimes called carriers. Emisphere’s Eligen® Technology makes it possible to deliver a
therapeutic molecule without altering its chemical form or biological integrity.
About Novo Nordisk
Novo Nordisk is a global healthcare company with 87 years of innovation and leadership in diabetes
care. The company also has leading positions within haemophilia care, growth hormone therapy and
hormone replacement therapy. Headquartered in Denmark, Novo Nordisk employs approximately 30,100
employees in 76 countries, and markets its products in 179 countries. Novo Nordisk’s B shares are
listed on NASDAQ OMX Copenhagen (Novo-B). Its ADRs are listed on the New York Stock Exchange (NVO).
For more information, visit novonordisk.com.
About Emisphere Technologies, Inc.
Emisphere is a biopharmaceutical company that focuses on the unique and improved delivery of
therapeutic molecules or nutritional supplements using its proprietary Eligen®
Technology. The Eligen® Technology can be applied to the oral route of administration as
well as other delivery pathways such as buccal, rectal, inhalation, intra-vaginal or transdermal.
The company’s website is www.emisphere.com.
For more information, please contact: |
||
Novo Nordisk A/S |
||
Media:
|
Investors: | |
Katrine Sperling
|
Klaus Davidsen | |
Tel: (+45) 4442 6718
|
Tel: (+45) 4442 3176 | |
krsp@novonordisk.com
|
klda@novonordisk.com | |
| Kasper Roseeuw Poulsen | ||
| Tel: (+45) 4442 4471 | ||
| krop@novonordisk.com | ||
| Jannick Lindegaard | ||
| Tel: (+45) 4442 4765 | ||
| jlis@novonordisk.com | ||
In North America:
|
In North America: | |
Lori Moore
|
Hans Rommer | |
Tel: (+1) 609 919 7991
|
Tel: (+1) 609 919 7937 | |
lrmo@novonordisk.com
|
hrmm@novonordisk.com | |
Emisphere Technologies, Inc. |
||
Media:
|
Investors: | |
Karen A. Kelsch
|
Michael R. Garone | |
Tel: (+1) 973-532-8101
|
Tel : (+1) 973-532-8005 | |
kkelsch@emisphere.com
|
mgarone@emisphere.com |
Safe Harbor Statement Regarding Forward-looking Statements
The statements in this release and oral statements made by representatives of Emisphere relating to matters that are not historical facts (including without limitation those regarding the timing or
potential outcomes of research collaborations or clinical trials, any market that might develop for
any of Emisphere’s product candidates and the sufficiency of Emisphere’s cash and other capital
resources) are forward-looking statements that involve risks and uncertainties, including, but not
limited to, the likelihood that future research will prove successful, the likelihood that any
product in the research pipeline will receive regulatory approval in the United States or abroad,
the ability of Emisphere and/or its partners to develop, manufacture and commercialize products
using Emisphere’s drug delivery technology, Emisphere’s ability to fund such efforts with or
without partners, and other risks and uncertainties detailed in Emisphere’s filings with the
Securities and Exchange Commission, including those factors discussed under the caption “Risk
Factors” in Emisphere’s Annual Report on Form 10-K (file no. 000-17758) filed on March 25, 2010,
Emisphere’s Quarterly Report on Form 10-Q filed on May 17, 2010, Emisphere’s Quarterly Report on
Form 10-Q filed on August 16, 2010, and Emisphere’s Quarterly Report on Form 10-Q filed on November
12, 2010 .