SAN DIEGO, May 23, 2018 /PRNewswire/ -- Epigen Biosciences, Inc. announced today that it has entered into a collaborationagreement with Novo Nordisk A/S under which Novo Nordisk has licensed the LPA1 receptor antagonist EPGN696 for development in diabetic and chronic kidney disease and other chronic diseases associated with metabolic syndrome. EPGN696 is an orally available,
Under the terms of the agreement, Epigen will receive upfront and potential milestone payments upon the achievement of specific development goals up to USD 200 million. In addition, Epigen also will be eligible to receive tiered royalties and milestones on the worldwide sales of products that arise from the collaboration. The two companies will collaborate on the development of EPGN696 for diabetic kidney disease (DKD) and other indications.
"Epigen discovered EPGN696 and its LPA1 receptor antagonist portfolio supported by the National Institutes of Health (National Institute of Diabetes and Digestive and Kidney Diseases DK092005, National Cancer Institute CA174019). Entering into a collaboration with Novo Nordisk provides recognition of our core R&D capabilities and the opportunity to make a significant difference for patients living with serious chronic diseases, such as DKD." Epigen Biosciences, Chief Business Officer, Satheesh B. Ravula said in a statement.
"Novo Nordisk is very excited about this opportunity for collaborating with Epigen in diabetic and potentially chronic kidney disease. This is an innovative project strengthening our efforts within this strategically important area for Novo Nordisk. It holds potential to make a significant difference for people with these chronic diseases" said Marcus Schindler, Senior Vice President, Global Drug Discovery in Novo Nordisk.
About Epigen Biosciences
Epigen Biosciences was founded in 2010 with a mission to discover therapies for unmet medical needs.
In addition to the LPA1 receptor antagonist program, the company has several small molecule programs in preclinical development including:
For more information, visit www.epigenbiosciences.com, Twitter, LinkedIn.
For Epigen:Satheesh B. Ravula, Ph.D., +1.858.657.0918; firstname.lastname@example.org
About Novo Nordisk
Novo Nordisk is a global healthcare company with 95 years of innovation and leadership in diabetes care. This heritage has given Novo Nordisk experience and capabilities that also enable Novo Nordisk to help people defeat obesity, haemophilia, growth disorders and other serious chronic diseases. Headquartered in Denmark, Novo Nordisk employs approximately 42,100 people in 79 countries and markets its products in more than 170 countries. For more information, visit novonordisk.com, Facebook, Twitter, LinkedIn, YouTube.
View original content:http://www.prnewswire.com/news-releases/san-diego-based-epigen-biosciences-enters-a-collaboration-to-license-its-lpa1-receptor-small-molecule-program-to-novo-nordisk-as-for-up-to-usd-200-million-300653982.html
SOURCE Epigen Biosciences, Inc.
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