Emisphere Technologies, Inc. and Novo Nordisk have entered into an exclusive development and license agreement to develop and commercialize oral formulations of Novo Nordisk’s insulins using Emisphere’s Eligen Technology. Emisphere will receive $5 million upfront and is eligible to receive $57.5 million in potential product development and sales milestone payments, as well as royalties.

“This is an encouraging agreement on a promising technology for oral administration of proteins. We are delighted to continue working with Emisphere and their Eligen Technology. It fits very well with Novo Nordisk’s strategy within diabetes research,” said Peter Kurtzhals, senior vice president, Diabetes Research Unit at Novo Nordisk.

“This extended partnership with Novo Nordisk is important for Emisphere for several reasons,” said Michael V. Novinski, president and chief executive officer of Emisphere. “To date, our collaboration with Novo Nordisk has been productive, and today’s agreement has the potential to offer significant new solutions to millions of people with diabetes worldwide. Finally, it also serves to further validate our Eligen(R) Technology.”