Amylin/Lifescan AC137 diabetes agreement gives $40 mil. to Amylin in first stage; Glaxo ends collaboration.
AMYLIN/J&J AC137 DIABETES AGREEMENT INVOLVES $40 MIL. IN FUNDING from Johnson & Johnson to the biotech company during the "first stage" of the collaboration, San Diego-based Amylin said June 21. As of the signing of the agreement, J&J Development Corp. made a $5 mil. equity investment in Amylin and paid an undisclosed licensing fee. In addition, J&J will purchases another $10 mil. in equity during the first phase of the collaboration and its Lifescan subsidiary will pay half the development costs of Amylin's AC137 amylin analog that is being developed for use with insulin to control blood glucose levels in diabetics.
You may also be interested in...
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011
FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials
Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth