TransTech Pharma, Inc. has acquired all rights from Novo Nordisk to three programs being developed to treat metabolic disorders.
A clinical-stage pharmaceutical company based in High Point, NC, TransTech will incorporate the three therapeutic approaches acquired from Novo Nordisk into its current diabetes and obesity portfolio. With the addition of these programs, TransTech is engaged in 11 clinical and preclinical programs in this area.
"We are extremely pleased to have prevailed in the acquisition process and to add these programs to our robust diabetes and obesity portfolio," said Adnan Mjalli, PhD, TransTech's founder, chairman and chief executive officer. "We are confident that all three programs represent promising approaches to addressing unmet medical needs."
Despite the enormous investment in the discovery of new therapeutics for metabolic disorders, more than 84 percent of all diabetics have an uncontrolled disease and one in three Americans born in 2000 is expected to develop the disease and experience its range of harmful symptoms and side effects.
TransTech made an undisclosed one-time payment to Novo Nordisk for acquisition of the programs.