Ossianix and Novo Nordisk sign research and option agreement

Privately-held US firm Ossianix today announced a research collaboration and option agreement with Novo Nordisk (NOV: N) to deliver therapeutic molecules in diabetes and other metabolic diseases across the blood brain barrier (BBB) to the brain.

Under the terms of the accord, Ossianix will use its patented single domain VNAR antibodies to deliver a predefined number of therapeutic agents of Danish diabetes care giant Novo Nordisk, which will be responsible for the development and commercialization of the therapeutic products.

Ossianix will receive upfront, pre-clinical, clinical and commercial milestone payments and 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.Further financial details of the agreement are not being disclosed.

Novo Nordisk, which early this year lost out to Sanofi in a bid to acquire Belgian company Ablynx, has recently reported a series of smaller deals in its core diabetes and metabolic disease area, including last month announcing a research collaboration with Evotec and the acquisition of Ziylo, a UK company specializing in glucose-sensitive insulin.