FREMONT, Calif., Feb. 5, 2014 /PRNewswire/ -- Zosano Pharma, Inc. (Zosano) announced today that it has entered into an agreement with Novo Nordisk A/S (NYSE: NVO) to develop a new transdermal presentation of semaglutide, an investigational proprietary human GLP-1 (Glucagon-Like Peptide-1) analogue, to be administered once weekly using Zosano's microneedle patch system for the treatment of type 2 diabetes.
Initially, Zosano and Novo Nordisk will engage in collaborative efforts to carry out preclinical experiments to verify delivery of semaglutide using Zosano's microneedle patch system.
Under the terms of the agreement, Zosano will grant Novo Nordisk a worldwide, exclusive license to develop and commercialize Novo Nordisk's proprietary GLP-1 analogues using Zosano's microneedle patch system. Novo Nordisk will, pending successful outcomes of preclinical and clinical testing, be responsible for commercialization of all products under the agreement.
Potential payments to Zosano under the agreement include an upfront payment and additional payments upon achieving certain preclinical, clinical, regulatory and sales milestones. Such payments could total more than $60 million for the first product and $55 million for each additional product. Zosano is also eligible to receive royalties on sales of products and will receive development support, as well as reimbursement of all development and manufacturing costs."We look forward to working with Novo Nordisk, a global leader in the field of diabetes, to develop a best in class product for glucose control in type 2 diabetics," stated Vikram Lamba, Chief Executive Officer of Zosano. "Our goal in combining semaglutide with Zosano's microneedle patch system is to offer weekly dosing, room temperature stability and self-administration without the need for a subcutaneous injection." About Type 2 DiabetesType 2 diabetes is a term for several disorders with different causes and degrees of severity. It is the most common type of diabetes. Often, people with type 2 diabetes can still make their own insulin in the pancreas, but the insulin that is produced is not used as effectively by the body. Many people manage type 2 diabetes simply by following a healthy diet and regular exercise. In overweight individuals, type 2 diabetes often improves as a result of weight loss, a healthy diet and exercise. With the progression of the disease, some people may have to take oral medication(s) or insulin or GLP-1 injections. About Semaglutide Semaglutide is an investigational Novo Nordisk proprietary human GLP-1 analogue in development for once-weekly treatment of type 2 diabetes patients. About Zosano's Microneedle Patch SystemZosano's microneedle patch delivers therapeutic compounds through the skin and provides rapid systemic drug delivery in a convenient, needle–free and pain–free system. Zosano's microneedle patch system has been tested in more than 450 patients with over 20,000 patches successfully applied to humans in Phase 1 and Phase 2 clinical studies. About Zosano PharmaZosano Pharma, Inc. is a private biopharmaceutical company and a pioneer in the field of transdermal drug delivery. Zosano is developing products using its proprietary microneedle patch system. Zosano seeks to develop products with significant commercial potential both independently and in collaboration with strategic partners. SOURCE Zosano Pharma, Inc.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts