Posted on 06/07/2010 in Pharmaceutical Company Restructures Lilly has announced that it is to purchase the biotechnology firm Alnara in a deal which will expand its capabilities in treating metabolic disease.
The privately-held Alnara specialises in innovative protein therapeutics for treatment of these conditions, including its lead developmental compound liprotamase, an enzyme replacement therapy for exocrine pancreatic insufficiency.
Lilly did not disclose the financial details of the definitive merger agreement, which remains contingent on receiving regulatory approval from the appropriate bodies.
It expressed confidence that the takeover would allow it to better service unmet medical needs, with liprotamase intended to allow patients with conditions such as cystic fibrosis and chronic pancreatitis to treat their condition using fewer pills.
Bryce Carmine, executive vice-president of Lilly and president of Lilly BioMedicines, added: "The acquisition of Alnara provides Lilly with a promising entry into enzyme replacement therapy."
Last month, Alnara reported new clinical trial data from a study of Bydureon, an investigational type 2 diabetes drug developed in collaboration with Amylin and Alkermes.Other news stories from 06/07/2010
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