IEX listed Merrion Pharmaceuticals has signed a deal worth $58m with Danish firm Novo Nordisk to develop and commercialise insulin that is taken orally.
Novo will pay for the development and commercialisation of the product, while Merrion will be responsible for its manufacture.
The total global insulin market is estimated to be worth around $9 billion and Merrion says this deal can potentially deliver a major new oral product for people with diabetes.
The two companies have collaborated since 2007 to test the utility of Merrion's GIPET technology in preclinical models.
