Posted on 14/05/2009 in Pharmaceutical Company Financials Boehringer Ingelheim is looking forward to working with DeveloGen after signing an asset sale, purchase and collaboration agreement, it has stated.
As well as having the opportunity to gain milestone payments of up to 237 million euros (212.5 million pounds), the latter will also receive an upfront sum of seven million euros from the former.
Under the arrangement, Boehringer Ingelheim will have access to a number of DeveloGen's developments in the field of obesity, diabetes, metabolic syndrome and other insulin resistance associated disorders.
Professor Andreas Barner, chairman of the board of managing directors, said the agreement would expand Boehringer Ingelheim's pipeline beyond the company's compounds targeting DPP-4 and SGLT-2.
"We will continue to use our expertise in metabolic research, drug development and commercialisation to make advances for patients suffering from these serious lifelong diseases," he commented.
Last month, the firm released data from a clinical trial that showed Mirapexin/ Sifrol (pramipexole) could improve depressive symptoms, as well as motor symptoms in patients with Parkinson's disease.Other news stories from 14/05/2009
Read more in the Zenopa News Archive
How this news is generated
|
