Procyon Technologies LLC and Novo Nordisk A/S to Collaborate on the Development of a Stem-Cell Based Therapy for Type 1 Diabetes
The collaboration brings together Procyon Technologies' expertise with development of oxygen enabled implantable cell encapsulation devices and Novo Nordisk's expertise in stem cell-derived insulin-secreting cells.
- The collaboration brings together Procyon Technologies' expertise with development of oxygen enabled implantable cell encapsulation devices and Novo Nordisk's expertise in stem cell-derived insulin-secreting cells.
- In addition, Procyon Technologies will receive tiered sales milestones and royalties on the annual net sales of the products resulting from the collaboration.
- Novo Nordisk will be responsible for the development, manufacturing and commercialization of the products resulting from the collaboration for Type 1 diabetes.
- "The partnership between Procyon Technologies and Novo Nordisk represents the culmination of years of hard work and will revolutionize the care of people with Type 1 diabetes."