Novo Nordisk in-licenses drug delivery technology from Caisson

Danish insulin giant Novo Nordisk (NVO: N) has entered into a development and license agreement with Caisson Biotech, wholly owned subsidiary of Heparinex, for the exclusive rights to use Caisson’s proprietary heparosan-based drug delivery technology to engineer and develop compounds within undisclosed therapeutic areas.

Under the terms of the agreement, Caisson will receive an undisclosed upfront payment and contract research and manufacturing payments. In addition, Caisson will be eligible to receive milestone payments upon achievement of certain predefined clinical, regulatory and commercial targets plus royalties on the global sales of the therapeutic products developed under the agreement, representing a total deal value potentially in excess of $100 million.

“We recently completed feasibility studies with Novo Nordisk that we believe validate Caisson’s heparosan-based drug delivery technology for product pharmacokinetics and enhanced half-life in relation to an undisclosed therapy area,” said Paul DeAngelis, chief scientist of Caisson.