Caisson Biotech & Novo Nordisk Enter Development & License Agreement

Novo Nordisk will use Caisson's proprietary drug delivery technology to engineer and develop novel therapeutics.

Biopharmaceutical company Caisson Biotech has entered into a new development and license agreement with Novo Nordisk for its patented heparosan-based drug delivery technology.

Under the terms of the agreement, Novo Nordisk will receive exclusive rights to the technology, which it will use to engineer and develop compounds for undisclosed therapeutic areas.

In return, Caisson will receive an undisclosed up-front payment and contract research and manufacturing payments, as well as potential milestone payments and royalties on the sales of any products developed under the agreement.

The total deal may therefore be valued in excess of $100 million.