Unigene and Nordic Bioscience select lead compound in diabetes alliance

16 August 2012

USA-based Unigene Laboratories (OTCBB: UGNE) and privately-held Danish firm Nordic Bioscience have selected their lead compound for type 2 diabetes under the companies' established Joint Development Vehicle (JDV).

In October 2011, Unigene and Nordic signed this JDV to progress up to three of Unigene's internally developed proprietary metabolic peptide analogs through Phase II proof-of-concept in humans. In exchange for 50% ownership interest in a corresponding JDV, Unigene has contributed $50,000 towards the incorporation of the JDV as a Swiss corporation and an exclusive royalty free license for up to three proprietary analogs for use in the treatment of type 2 diabetes, osteoarthritis and osteoporosis.

Designate UGP302 for further study

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