TransTech Pharma, Inc. Acquires Three Programs for the Treatment of Metabolic Disorders from Novo Nordisk
After determining in January 2007 to focus all Novo Nordisk research and development resources on the company's growing pipeline of protein-based pharmaceuticals, the company divested all existing preclinical and clinical small-molecule projects. Novo Nordisk selected TransTech to develop these three programs based on its prior success working closely with TransTech on novel drug development.
"We are very pleased to place our programs in such good hands. We have previously partnered with TransTech, and know that TransTech has the capability to effectively and expeditiously proceed with the further development of these programs," said Novo Nordisk Executive Vice President and Chief Scientific Officer Mads Krogsgaard Thomsen. "This allows us to focus our R&D efforts on therapeutic proteins while keeping a financial stake in the programs as a TransTech shareholder."
"We are extremely pleased to have prevailed in the acquisition process and to add these programs to our robust diabetes and obesity portfolio," said Adnan Mjalli, PhD, TransTech's founder, chairman and chief executive officer. "We are confident that all three programs represent promising approaches to addressing unmet medical needs. These additions to the pipeline will allow TransTech to become a world leader in the discovery and development of novel treatments for diabetes, obesity and other metabolic disorders."
TransTech's current diabetes and obesity portfolio includes orally administered and novel therapeutic development candidates targeting PTP1b inhibitors, AgRP inhibitors, GLP1R agonists, AMPK activators and glucokinase activators. Now, with the addition of the three Novo Nordisk programs, TransTech is engaged in 11 clinical and preclinical programs in this area.
Despite the enormous investment in the discovery of new therapeutics for metabolic disorders, more than 84 percent of all diabetics have an uncontrolled disease and one in three Americans born in 2000 are expected to develop the disease and experience its range of harmful symptoms and side effects.
"TransTech Pharma is in a unique position to potentially treat metabolic disorders through novel, multifaceted therapeutic approaches that address obesity, hepatic glucose output, insulin resistance, beta cell preservation, dyslipidemia and microvascular complications," Dr. Mjalli said.
TransTech made an undisclosed one-time payment to Novo Nordisk for acquisition of the programs.
About TransTech Pharma
TransTech Pharma is a privately held clinical-stage pharmaceutical company focused on the discovery, development and commercialization of human therapeutics to fill unmet medical needs. The company's high-throughput drug discovery platform, Translational Technology(R), translates the functional modulation of human proteins into safe and effective medicines. TransTech has a pipeline of small molecule clinical and pre-clinical drug candidates for the treatment of a wide range of human diseases including cardiovascular disorders, central nervous system disorders, type I/II diabetes, obesity and cancer. For further company information, visit http://www.ttpharma.com.
About Novo Nordisk
Novo Nordisk is a healthcare company and a world leader in diabetes care. In addition, Novo Nordisk has a leading position within areas such as haemostasis management, growth hormone therapy and hormone replacement therapy. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society. With headquarters in Denmark, Novo Nordisk employs more than 26,000 employees in 79 countries, and markets its products in 179 countries. Novo Nordisk's B shares are listed on the stock exchanges in Copenhagen and London. Its ADRs are listed on the New York Stock Exchange under the symbol NVO. For more information, visit novonordisk.com.
TransTech Pharma, Inc.
Stephen L. Holcombe, Senior Vice President and
Chief Financial Officer, 336-841-0300 Ext. 150
Richard Lewis Communications, Inc.
Gregory Tiberend or Mary Kate Dubuss, 212-827-0020
Mike Rulis, (+45)4442-3573 or
Sean Clements (North America), (+1)609-514-8316
Mads Veggerby Lausten, (+45)4443-7919
Hans Rommer, (+45)4442-4765 or
Christian Qvist Frandsen (North America),
Posted: January 2008