Foley Hoag Advises Zosano Pharma in Licensing Agreement with Novo Nordisk
February 11, 2014
Foley Hoag LLP recently advised Zosano Pharma, Inc., a privately owned biotechnology company that is a pioneer in the transdermal drug delivery field, in its entering into an agreement with Novo Nordisk A/S to develop a new transdermal presentation of semaglutide, an investigational proprietary human GLP-1 (Glucagon-Like Peptide-1) analogue, to be administered once weekly using Zosano’s microneedle patch system for the treatment of type 2 diabetes.
Under the terms of the agreement, Zosano will grant Novo Nordisk a worldwide, exclusive license to develop and commercialize Novo Nordisk’s proprietary GLP-1 analogues using Zosano’s microneedle patch system. Novo Nordisk will, pending successful outcomes of preclinical and clinical testing, be responsible for commercialization of all products under the agreement.
Potential payments to Zosano under the agreement include an upfront payment and additional payments upon achieving certain preclinical, clinical, regulatory and sales milestones. Such payments could total more than $60 million for the first product and $55 million for each additional product. Zosano is also eligible to receive royalties on sales of products and will receive development support, as well as reimbursement of all development and manufacturing costs.
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