Biodel Inc. (BIOD) Announces Collaboration Agreement With HEC Pharm for Development of Ultra-Rapid-Acting Insulin Aspart Formulation
4/23/2014 9:05:53 AM
DANBURY, Conn., April 22, 2014 (GLOBE NEWSWIRE) -- Biodel Inc. (Nasdaq:BIOD) today announced the signing of a research supply and technology development agreement with the HEC Pharm subsidiary Yichang Chang Jiang Pharmaceutical Co., Ltd for ultra-rapid-acting insulin aspart. Under the agreement, HEC will supply insulin aspart, the active pharmaceutical ingredient (API) in Novolog®, which Biodel will use to formulate aspart based ultra-rapid-acting insulin formulations. Biodel has granted HEC an option to enter into negotiations for an exclusive license to develop and market in China any resulting product candidates. Biodel maintains rights to the product candidates in worldwide markets outside of China.
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