Eli Lilly is forking over a $35 million upfront payment to nail down the worldwide licensing rights to TransPharma Medical's ViaDerm-hPTH osteoporosis product and a non-exclusive license to its ViaDerm drug delivery system. The two developers will collaborate on the ongoing Phase II trial and then Lilly will take over development responsibility. The pact includes undisclosed milestones and royalties.
"This agreement expands the scope of our osteoporosis program with a novel, patient-centered approach that builds upon our success with Evista and Forteo," commented Dr. Gwen Krivi, vice president of Lilly Research Labs. "As we focus on developing a transdermal PTH product with TransPharma, we will leverage our combined expertise, with the goal of providing patients with a product that meets their desire for an alternative to injection for PTH."
- read the release [1]
- check out the AFX report [2]
Related Articles:
TransPharma raises $18M [3]
Lilly's Lechleiter: 'We're a biotech' [4]
Lilly developing biotech drugs the old-fashioned way [5]
Links:
[1] http://www.fiercebiotech.com/press-releases/lilly-signs-agreement-osteoporosis-drug
[2] http://www.forbes.com/afxnewslimited/feeds/afx/2008/06/12/afx5108936.html
[3] http://www.fiercebiotech.com/story/also-noted-transpharma-raises-18m-biogen-idec-elan-re-release-tysabri-and-m/2006-07-24
[4] http://www.fiercepharma.com/story/lilly-s-lechleiter-we-re-a-biotech-/2008-03-31
[5] http://www.fiercebiotech.com/story/lilly-developing-biotech-drugs-old-fashioned-way/2007-07-31