Amgen pays milestone fee to diabetes partner Array
24 July 2012 11:09 in Pharmaceutical Company Product News
Amgen has paid a milestone fee to its developmental partner Array BioPharma, with which it is working to create a new diabetes drug.
An $8.5 million (5.48 million pounds) payment has been triggered after Amgen reached a predefined patient enrolment target in a phase IIa clinical trial of AMG 151, a small-molecule glucokinase activator (GKA).
This randomised, double-blind, placebo-controlled study is evaluating the drug in combination with metformin among patients with type 2 diabetes, with Amgen aiming to enrol around 224 patients in total.
Its primary endpoint is to establish whether the compound is able to deliver improvements in terms of fasting plasma glucose levels from baseline to the end of treatment.
The companies' small-molecule GKA programme is potentially valued at more than $700 million in terms of upfront fees, milestone payments and future royalties.
Earlier this month, Amgen announced the completion of its takeover of KAI Pharmaceuticals, giving it access to the chronic kidney disease treatment KAI-4169.
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Story collated for Zenopa by the Adfero News Agency