Novo Nordisk acquires IP rights from Neose Technologies

18-Sep-2008

Novo Nordisk in Denmark, has signed an agreement to acquire intellectual property rights from Neose Technologies Inc. related to Neose\'s proprietary GlycoPEGylation technology.

Novo Nordisk in Denmark, has signed an agreement to acquire intellectual property rights from Neose Technologies Inc. related to Neose's proprietary GlycoPEGylation technology.

The acquired rights are currently subject to a license from Neose for Novo Nordisk's development of GlycoPEGylated recombinant blood clotting factors FVIIa, FVIII and FIX.

The transaction is in line with Novo Nordisk's strategy of expanding its presence within general haemophilia. The total acquisition cost amounts to approximately US$ 21m.

The agreement is subject to approval by the shareholders in Neose Technologies Inc.

GlycoPEGylation is a technology developed to enable selective addition of polyethylene glycol (PEG) to sugar chains whereby protein half-life can be extended and customised.

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Novo Nordisk is a healthcare company and a world leader in diabetes care. In addition, Novo Nordisk has a leading position within areas such as haemostasis management, growth hormone therapy and hormone replacement therapy. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society.

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