Neose and Novo Nordisk Sign Research and Development Collaboration Agreement
HORSHAM, Pa., Oct. 1 /PRNewswire-FirstCall/ -- Neose Technologies, Inc. (Nasdaq: NTEC - News) today announced that it has entered into a research and development collaboration agreement with Novo Nordisk A/S (NYSE: NVO - News) for the use of Neose's GlycoAdvance(TM) technology to make clinically significant improvements to a Novo Nordisk therapeutic protein.
"We believe Neose's GlycoAdvance technology may make important improvements to marketed therapeutic proteins in the Novo Nordisk pipeline. As a global leader in the development and commercialization of biological products, Novo Nordisk is an ideal partner for GlycoAdvance. We are excited by the potential opportunities to add value to their products through this collaboration," said C. Boyd Clarke, Neose president and chief executive officer.
Novo Nordisk is a focused healthcare company and the world leader in diabetes care. In addition, Novo Nordisk has a leading position within areas such as haemostasis management, growth hormone therapy and hormone replacement therapy. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society. With headquarters in Denmark, Novo Nordisk employs approximately 17,900 people in 68 countries and markets its products in 179 countries. For further company information visit www.novonordisk.com.
Neose develops proprietary technologies for using enzymes to manufacture complex carbohydrates. Neose is using its broad technology base to develop novel and improved products for itself and its partners, primarily focusing on protein therapeutics. Neose markets its technology for improving protein drugs under the name GlycoAdvance(TM). We use GlycoAdvance(TM) to modify the human carbohydrate structures on therapeutic glycoproteins. We are also developing our technology to create novel glycosylation patterns, and to link other molecules, such as polyethylene glycol, to glycoproteins. The application of this technology to proteins potentially results in improved clinical activity and pharmacokinetic profile, enhanced drug development flexibility, stronger and additional patent claims, and yield improvements. We are exploring the use of our technology to enable the development of carbohydrate-based therapeutics, and the development of novel carbohydrate food and nutritional ingredients.
CONTACTS:
Neose Technologies, Inc.
Robert I. Kriebel
Sr. Vice President and Chief Financial Officer
Barbara Krauter
Investor Relations Associate
(215) 315-9000
For more information, please visit www.neose.com. |
