Nobex assets on the block

Research Triangle Park, N.C.-based Nobex is seeking buyers for its intellectual property and assets after declaring bankruptcy in December. On the selling block is its alkylPEGylation technology for conjugating polymers to drug molecules, allowing for oral delivery. Nobex's pipeline includes oral forms of insulin and calcitonin. The bankruptcy comes two years after GlaxoSmithKline pulled out of an alliance with Nobex for oral insulin. India's Biocon subsequently emerged as the new development partner for oral insulin and has submitted an opening bid of $3.5 million for Nobex' assets. Nobex hopes to complete the sale in March.