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Unigene and Nordic Bioscience Enter Equity Transfer and Exclusive License Agreement for Proprietary Metabolic Peptide Analogs
Date:5/9/2013

BOONTON, N.J., May 9, 2013 /PRNewswire/ -- Unigene Laboratories, Inc. (PINK: UGNE), a leader in the design and development of peptide-based therapeutics, today announced it has entered into an equity transfer and exclusive license agreement with Nordic Bioscience (Nordic) involving three proprietary metabolic peptide analogs for Type 2 diabetes, osteoarthritis and osteoporosis developed as part of a Joint Development Vehicle (JDV) established by both companies in October 2011. 

Under the terms of the equity transfer and exclusive license agreement, Nordic has agreed to pay $1,000,000 for Unigene's ownership interest in the JDV. In accordance, Unigene has granted the now 100% Nordic owned JDV, an exclusive, royalty-bearing license to develop and commercialize products incorporating any of the three licensed analogs for the treatment of Type 2 Diabetes, osteoarthritis and osteoporosis in humans. In August 2012, the companies selected UGP302 as the lead compound for Type 2 diabetes.

Dr. Nozer Mehta , Chief Scientific Officer for Unigene stated, "We have been extremely pleased with our collaboration with Nordic Bioscience. The synergy between the capabilities of our two companies has allowed us to progress very rapidly with this exciting program. By way of the original JDV, Nordic has been able to expedite its evaluation of the Unigene peptides and has successfully used its industry-leading know-how and experience to determine their efficacy using a variety of cell-based technologies and animal models."

Dr. Morten Karsdal , Chief Executive Officer for Nordic BioScience commented, "The 302 molecule, and family of peptides, are extremely interesting and have been optimized to provide the ideal receptor binding profile for Type 2 diabetes and osteoarthritis.  As such, we are confident these peptides will deliver an efficacy and combination of effect
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SOURCE Unigene Laboratories, Inc.
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