ZEALAND PHARMACEUTICALS IN JOINT VENTURE WITH ELAN 

Zealand Pharma (”Zealand”) has entered into a joint venture agreement with Elan Corporation plc (”Elan”) for the development of a drug for the treatment of type 2 diabetes. 

The joint venture will combine Zealand’s proprietary compounds for type 2 diabetes with Elan’s drug delivery technologies. Zealand has obtained promising pre-clinical results, which show a significant reduction in blood glucose in diabetic animals after administration with the Zealand compounds. As part of the joint venture agreement, Elan has made an equity investment in Zealand, and Elan will be represented on the Board of Directors of Zealand.

Eva Steiness, CEO of Zealand: ”We are delighted to have Elan as a partner for our diabetes project and as a shareholder. Elan is a professional partner with a strong record within drug delivery and also pharmaceutical development. We look forward to drawing on Elan’s knowhow, first of all within the area of delivery technology but also within general scientific and commercial areas.”

Zealand is a Danish biotech company founded in October 1998. The aim is to research, develop and obtain market approval for new drugs with significant improvements in the treatment of severe diseases. Zealand focuses on peptide based drugs. The major shareholders are BankInvest, Ikano, LD, Elan Corporation and senior staff of the company. Zealand employs a staff of totally 35 people.

For further information please contact:

Eva Steiness,
President and CEO,
Zealand Pharma
Phone: +45 4328 1210
Email: est@zp.dk