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Business Update
Transition Therapeutics, Novo Nordisk sign new agreement for diabetes regenerative therapies
August 14th, 2006
Transition Therapeutics Inc. (TTH), announced that Novo Nordisk A/S and Transition have signed an amendment to their license agreement on E1-I.N.T. and GLP1-I.N.T. to restate the rights and responsibilities of the parties. Novo Nordisk retains exclusive, worldwide rights to the E1-I.N.T program and Transition regains exclusive ownership and rights to all other I.N.T. programs, including GLP1-I.N.T. Novo Nordisk has in association with the execution of the amendment paid US$500,000 to Transition. Also, Transition will receive from Novo Nordisk US$500,000 in research and development funding in 2006. The financial terms of the amended agreement remain...
Source: Stem Cell Week (2006-08-14)
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