Danish insulin and drugmaker Novo Nordisk has been granted an exclusive license by Scios Inc of the USA on the latter's insulinotropin technology, which is in Phase II clinical testing for the treatment of Type II diabetes. The signing follows a previously announced option agreement.
Under the terms of the deal, Novo Nordisk will continue the Phase II trial program and product development activities. Scios will receive an up-front payment and time- and event-based milestone payments and royalties upon commercialization. Additional terms were not disclosed.
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