Merrion Pharmaceuticals plc (ESM: MERR), today announces that its partner, Novo Nordisk, successfully completed a single dose Phase I trial with a novel oral insulin (NN1954). Merrion Pharmaceuticals GIPET Technology was used in the formulation of NN1954.
The aim of this randomised, double-blind placebo and active controlled single ascending dose trial was to investigate the safety, tolerability, pharmacokinetics (exposure of drug) and pharmacodynamics (effect on blood glucose levels) of NN1954.
Under the terms of the license agreement entered into with Novo Nordisk in 2008 Merrion, receives payments on achievement of certain development, regulatory and sales milestones as well as royalties on sales.
Merrion's Chairman, Michael Donnelly, said "This is another step towards improving the management options for diabetes. This type of ascending dose trial is a critical stage in the development of a new therapeutic. We continue to be encouraged with the commitment of Novo Nordisk to the incorporation of Merrion's GIPET technology in the plan to bring an oral insulin tablet to the market."
Merrion Pharmaceuticals Plc.
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Davy Corporate Finance
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