December 22, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Emisphere Technologies, Inc. (EMIS – OTCBB) and Novo Nordisk A/S (NVO – NYSE) said that they have entered into an exclusive development and license agreement to develop and commercialize oral formulations of Novo Nordisk's insulins 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 1 clinical trial.

According to the companies, the insulin agreement includes 57.5 million US dollars in potential product development and sales milestone payments to Emisphere, of which five million dollars will be payable upon signing, as well as royalties on sales. Further financial details of the agreement were not made public.

Denmark-based Novo Nordisk is focused on diabetes care, and has positions within haemophilia care, growth hormone therapy and hormone replacement therapy.

New Jersey-based Emisphere is a biopharmaceutical company that focuses on the delivery of therapeutic molecules or nutritional supplements using its proprietary Eligen Technology.

According to Emisphere, 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.

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