Emisphere inks deal on oral formulations of Novo Nordisk molecules

Emisphere Technologies (OTC: EMIS) has entered into a development and license agreement with Novo Nordisk (NOV: N) to develop and commercialize oral formulations of four classes of the Danish diabetes care giant’s investigational molecules targeting major metabolic disorders, including diabetes and obesity, using Emisphere's oral Eligen Technology. News of the deal pushed Emisphere’s shares up 21.6 to $0.65 in mid-morning trading.

Under the terms of the agreement, Emisphere licensed to Novo Nordisk the exclusive right to develop potential product candidates in three molecule classes, and the non-exclusive right to develop potential product candidates in a fourth molecule class, using the Eligen Technology.

“Novo Nordisk has been an important partner for many years and this expanded partnership further validates the Eligen Technology and its ability to facilitate absorption from the gastrointestinal tract,” said Emisphere chief executive Alan Rubino.