Novo thinks there's potential for a next gen factor VIIa...
Press Release Source: Neose Technologies, Inc.
Novo Nordisk and Neose Announce Initiation of Phase I Clinical Trial of Long-Acting Factor VIIa
Friday June 15, 8:00 am ET
COPENHAGEN, Denmark & HORSHAM, Pa.--(BUSINESS WIRE)--Novo Nordisk A/S (NYSE:NVO - News) and Neose Technologies, Inc. (NasdaqGM:NTEC - News) today announced that Novo Nordisk has initiated a Phase I clinical trial of GlycoPEGylated Factor VIIa, a long-acting version of NovoSeven® Coagulation Factor VIIa (Recombinant). The trial will assess the safety and pharmacokinetics of GlycoPEGylated Factor VIIa in healthy volunteers.
GlycoPEGylated Factor VIIa is being developed by Novo Nordisk under a license agreement with Neose. The initiation of the Phase I study triggers an undisclosed milestone payment to Neose under the license agreement.
"Novo Nordisk is committed to developing therapies to prevent or reduce bleeding episodes and to improve the quality of life in patients with hemophilia. We are pleased that our collaboration with Neose has resulted in a long-acting Factor VIIa clinical development candidate that has the potential to contribute to this goal," said Mads Krogsgaard Thomsen, executive vice president and chief science officer of Novo Nordisk.
"We are pleased that GlycoPEGylated Factor VIIa has entered clinical development, making it the third GlycoPEGylated therapeutic protein to reach this milestone. Novo Nordisk has proved to be an ideal partner for this development candidate, and we are confident that their clinical expertise will continue to add value to this program," said George J. Vergis, Ph.D., Neose president and chief executive officer."
About Coagulation Factor VII
Factor VII/VIIa is used in the treatment of bleeding episodes and for the prevention of bleeding during surgery or invasive procedures in patients with congenital hemophilia with inhibitors to coagulation factors VIII or IX. The worldwide market for recombinant Factor VII was approximately $1 billion in 2006, with Novo Nordisk being the only participant.
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