Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
Aradigm/Novo Nordisk: Restructured licensing agreement with Novo Nordisk concerning Aradigm's AERx pulmonary drug delivery system for diabetes management results in a $55 mil. payment to Aradigm, minus previous advances. Under the Jan. 26 deal, Novo Nordisk gains assets, building leases and employees associated with AERx, which is in clinical trials (1"The Gray Sheet" Jan. 3, 2005, p. 17). Aradigm retains AERx' intellectual property and will receive royalties on sales. The move dovetails with President & CEO Bryan Lawlis' plan to focus on advancing Aradigm's needle-free Intraject system for treating migraine headaches...