PHILADELPHIA, PA, USA: Ossianix, Inc. today announced a research collaboration and option agreement with Novo Nordisk to deliver therapeutic molecules in diabetes and other metabolic diseases across the Blood Brain Barrier (BBB) to the brain.
Under the terms of the agreement, Ossianix will use its patented single domain VNAR antibodies to deliver a predefined number of therapeutic agents of Novo Nordisk. Novo Nordisk will be responsible for the development and commercialization of the therapeutic products.
Ossianix will receive upfront, pre-clinical, clinical and commercial milestone payments, R&D funding, as well as product royalties from Novo Nordisk. In addition, Novo Nordisk has a buyout option for each product on pre-agreed financial terms.
Financial details of the agreement are not being disclosed.
Dr. Frank Walsh, CEO of Ossianix, stated: “We are very excited to be working with Novo Nordisk, a global healthcare company with 95 years of innovation and leadership in diabetes care. Ossianix’s single domain VNAR antibodies BBB platform is capable of delivering high levels of therapeutic products to the central nervous system utilizing the transferrin receptor. We look forward to developing a successful collaborative relationship with Novo Nordisk on drug targets in the CNS associated with diabetes and metabolic disease which are areas of huge medical need.”
“We are excited about the opportunity to collaborate with Ossianix, who has developed a unique platform for delivery of proteins and peptides to the brain using their proprietary blood-brain-barrier shuttle technology. In combination with our experience in disease biology, the projects that we will collaborate on hold potential to make a real difference for people living with diabetes and other metabolic diseases,” said Dr. Marcus Schindler, Senior Vice President, Global Drug Discovery at Novo Nordisk.
Submitted on 05/09/2018