Merrion Pharmaceuticals has received a milestone payment worth $2 million as a new oral insulin drug using its technology began its first clinical trials.
The firm's gastrointestinal permeation enhancement technology, known as Gipet, is being used in the formulation of a compound, NN1952, developed by healthcare firm Novo Nordisk. The compound, which would allow insulin to be given in tablet form instead of injection, has just begun its first phase one clinical trial.
The trial, which is being conducted in Germany, is being conducted among healthy volunteers and those who have type one and type two diabetes. Up to 80 people will take part in the trial, which will investigate the drug's safety, tolerance, exposure of the drug and effect of NN1952.
Merrion signed an agreement in November last year which would allow the development and commercialisation of oral versions of Novo Nordisk's insulin drugs using Gipet to help insulin absorption from the gut .
“The $2 million milestone payment, which we have achieved by meeting all necessary deadlines, is an extremely positive development for Merrion," said Merrion chief executive John Lynch.
"This is a major programme for Merrion and we are determined to ensure that our highly motivated team of specialists maximises the likelihood of success for Novo Nordisk’s oral insulin candidates.”
Results from the trial are expected to be available in the first half of 2011.
