Novo Nordisk, Procyon in licensing pact for stem-cell based type 1 diabetes therapy

 

• Privately-held Procyon Technologies has entered into an exclusive research collaboration and license agreement with Novo Nordisk (NVO +0.5%) to develop an implantable cell encapsulation device to be used by latter with its stem cell-derived insulin-secreting cells for the development of Type 1 diabetes therapies.
• Novo Nordisk will be responsible for the development, manufacturing and commercialization of the products resulting from the collaboration.  Financial details were not disclosed.
• Procyon cell encapsulation device mitigates foreign body response, promotes the formation of vascular structures on its surface enabling the rapid diffusion of nutrients to the cells inside and the rapid absorption of insulin.
• https://seekingalpha.com/news/3642624-novo-nordisk-procyon-inks-licensing-pact-for-stem-cell-based-therapies-for-type-1-diabetes