FREMONT, Calif., July 6, 2015 (GLOBE NEWSWIRE) -- Zosano Pharma Corporation (Nasdaq:ZSAN) announced today that Novo Nordisk (NVO) has notified Zosano of its intention to discontinue the collaboration agreement related to development of a transdermal presentation of select NVO glucagon-like peptide-1 (GLP-1) analogues. Zosano has been notified that the decision relates to a strategic prioritization of NVO's research portfolio despite continued progress during the collaboration period. Upon the expected termination of the agreement, all technology rights licensed to Novo Nordisk related to the field of GLP-1 products will revert to Zosano.
Zosano and NVO entered into a collaboration agreement in January 2014 to develop a new transdermal presentation of NVO proprietary human GLP-1 analogues, to be administered once weekly using Zosano's microneedle patch system for the treatment of type 2 diabetes.
About Zosano Pharma
Zosano Pharma Corporation is a clinical-stage specialty pharmaceutical company that has developed a proprietary transdermal microneedle patch system to deliver drug formulations through the skin for the treatment of a variety of indications. Zosano Pharma's microneedle patch system offers rapid onset, consistent drug delivery, improved ease of use and room-temperature stability, benefits that the company believes often are unavailable using oral formulations or injections. Zosano Pharma's microneedle patch system has the potential to deliver numerous medications for a wide variety of indications in commercially attractive markets. It has been tested in more than 400 patients with over 30,000 patches successfully applied to humans in Phase 1 and Phase 2 clinical studies. Learn more at www.zosanopharma.com.
Forward-Looking Statements
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