Bankrupt Zosano Sells Its Drug Delivery Tech That Once Partnered With Pharma Giants - Novo Nordisk (NYSE:NVO)

Emergex Vaccines Holding Limited acquired the assets of Zosano Pharma Corporation. The sale was part of the customary proceedings after Zosano filed for bankruptcy in June.
The assets acquired include intellectual property, license agreements, and manufacturing equipment.
They also include Zosano's proprietary microneedle array patch (MAP) intradermal drug delivery system, including a reusable applicator, solid-coated microneedle array patch technology, product packaging, methods for formulation and microneedle coating, and specialized equipment.
Emergex has previously completed proof-of-concept studies, coating Zosano's MAP technology-based microneedle patches with Emergex vaccine candidates, and observed favorable shelf-life characteristics.
In May, Zosano suspended its M207 program to preserve its capital and cash resources.
Additionally, the company's remaining feasibility study with a pharmaceutical partner is expected to conclude this quarter.
Novo Nordisk A/S NVO once paid $1 million upfront to use Zosano's patch system to develop transdermal versions of select Novo glucagon-like peptide-1 (GLP-1) analogs. In 2015 the companies terminated the pact.
Eli Lilly And Co LLY once teamed up with Zosano and invested $15 million to commercialize a treatment for osteoporosis, but the companies later dissolved the pact.