Novo Nordisk Assigns Inhaled Insulin Patent Portfolio to Aradigm Corporation
October 9, 2008
HAYWARD, Calif.--(BUSINESS WIRE)--Aradigm Corporation (OTCBB:ARDM - News) ("Aradigm" or "Company"), a specialty pharmaceutical company, today announced that Novo Nordisk ("Novo") transferred to Aradigm, at no charge, a portfolio of inhaled insulin related patents pursuant to a license agreement between Aradigm and Novo that was terminated in May 2008. Novo purchased a significant portion of the portfolio from Aradigm in July 2006 and supplemented the portfolio with certain of its own related patents. The portfolio includes both U.S. and foreign patents. Aradigm assumes responsibility for the maintenance of this portfolio.
In addition to the patent portfolio, Novo will transfer to Aradigm a significant preclinical safety database that was developed during the Aradigm/Novo collaboration, the rights to a miniaturized second-generation electronic insulin inhaler and data from Novo's inhaled insulin clinical program, which included nine Phase 3 trials in Type 1 and Type 2 diabetes patients.
"We believe Aradigm's pioneering team developed a strong intellectual property position in the area of inhaled drugs, and inhaled insulins in particular, which was expanded during the collaboration with Novo. Aradigm's inhaler has unique features, including features to facilitate proper usage of the inhaler and convenient dosage flexibility. We wish to find a new partner interested in completion of the development and commercialization of our insulin inhaler for diabetes patients who are unable or unwilling to inject insulin," said Igor Gonda, the CEO and President of Aradigm Corporation.
About Aradigm
Aradigm is an emerging specialty pharmaceutical company focused on the development and commercialization of a portfolio of drugs delivered by inhalation for the treatment of severe respiratory diseases by pulmonologists. Current activities include partnered and self-initiated development programs addressing the treatment of cystic fibrosis, bronchiectasis, pulmonary hypertension, asthma and COPD, inhalation anthrax infections and smoking cessation.
More information about Aradigm can be found at www.aradigm.com.
Aradigm and the Aradigm Logo are registered trademarks of Aradigm Corporation.
Forward-Looking Statements
Except for the historical information contained herein, this news release contains forward-looking statements that involve risk and uncertainties, including statements regarding Aradigm's patent portfolio, Aradigm's products, as well as the other risks detailed from time to time in Aradigm Corporation's Securities and Exchange Commission (SEC) Filings, including the Company's Annual Report on Form 10-K, and quarterly reports on Form 10-Q.
SOURCE: Aradigm