Lilly turns to Amylin
Executive Summary
Lilly will collaborate with Amylin on the development of AC2993 for type 2 diabetes, following Lilly's decision not to pursue Phase III studies of its in-house glucagon-like peptide-1 analogue. Lilly opted not to proceed to Phase III with its drug because of a technical failure in the formulation that caused adverse effects at the injection site, company says. AC2993 has a similar mechanism of action and is in Phase III; the companies hope to file an NDA in 2004. Agreement calls for Lilly to make an $80 mil. upfront payment and purchase $30 mil. in equity. Amylin will receive up to $215 mil. in additional milestone payments, and companies will split U.S. profits equally. Amylin previously worked with Johnson & Johnson on the development of Symlin (pramlintide), but J&J withdrew from the agreement...
You may also be interested in...
Amylin Exenatide NDA Filing Expected Mid-2004; Symlin Launch in Q1
Amylin is eyeing a mid-2004 filing date for its exenatide NDA
Ultrahuman Expands Wearable Medtech Production Into US After $35M Funding Round
Firm operating in London, India and United Arab Emirates says its “Ultra Factory” will open in Indiana within the next six months with end-to-end production based on its operational facility in India.
Cochlear’s Osia System Receives Expanded FDA Clearance For Use In Younger Children
Kids ages 5 and up now can benefit from Cochlear’s Osia implant and sound processor, indicated for hearing loss, mixed hearing loss and single-sided sensorineural deafness.