New Novo deal a boost for Merrion

IRISH drug development company Merrion Pharmaceuticals has announced a new collaboration agreement with Danish healthcare firm, Novo Nordisk, that will evaluate the capabilities of Merrion’s GIPET technology to improve the delivery of an unnamed compound.

The latest deal between the companies gives Novo the option to enter into a further licensing agreement for the GIPET technology (which is aimed at improving the absorption of drugs) and gives the Danes a warrant to acquire ordinary shares, in Merrion, worth up to €1.5m at Tuesday’s closing share price of €2.73.

Exercising the option could result in Novo owning a 5% share in the Dublin-headquartered company.