Posted on 16/12/2009 in Pharmaceutical Company Product News Amgen has entered into an agreement with Array BioPharma that will see the two companies working together in the development of new treatments for type 2 diabetes.
In a statement, the international pharmaceutical company explained that it now has exclusive worldwide rights to Array BioPharma's small-molecule glucokinase activator programme, which is currently being trialled on people with the condition.
Under the terms of the deal, Amgen will provide Array BioPharma with an upfront payment of $60 million (36.88 million pounds), as well as additional contingent payments that will be dependent on commercial and clinical milestones being reached.
Amgen is now responsible for future clinical development and commercialisation of ARRY-403, which is an element of the small-molecule glucokinase activator programme, as well as any resulting backup compounds.
"Type 2 diabetes has long been an important focus of research for Amgen - and the addition of ARRY-403 clearly strengthens our diabetes pipeline," commented Dr Roger Perlmutter, Amgen's executive vice-president of research and development.
Earlier this month, Amgen launched a new global online resource called Amgen Scholars.Other news stories from 16/12/2009
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