Recombinant Human Insulin Licensed
Bio-Technology General Corp. (BTG) (Iselin, NJ; Tel: 732/632-8800) announced that it has entered into to a technology transfer and licensing arrangement with Diosynth bv, a subsidiary of Akzo Nobel, for BTG’s genetically engineered human insulin. Diosynth will have rights to the product in most countries of the world. BTG will transfer its recombinant human insulin technology to Diosynth, which will manufacture the product in bulk form for the licensed territory. Another Akzo Nobel subsidiary, Organon, may finish the product and market it in final form. BTG will receive license fees, milestone payments, and royalties on all commercial sales of the product. “In securing this important relationship, we believe the successful commercialization of our recombinant human insulin will be ensured around the world.” says Sim Fass, chairman, resident, and CEO of BTG. “We intend, through our new partner, to become a significant player in the expanding worldwide human insulin market.”
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