Boehringer Ingelheim Enters Deal with DeveloGen with an Initial Fee of $9.5M
Agreement covering insulin-resistance disorders offers $322 million in milestones.!--h2>
DeveloGen sold Boehringer Ingelheim exclusive, worldwide rights to preclinical-stage compounds against a validated insulin resistance target for €7 million up front, or roughly $9.5 million. The asset sale, purchase, and collaboration agreement calls for another €237 million, or $322 million, in milestones related to R&D as well as regulatory and commercial events.
The deal spans drug discovery and development in the field of diabetes, obesity, metabolic syndrome, and other insulin resistance-related disorders. DeveloGen will receive research payments to support discovery and development efforts. The firm will work collaboratively with Boehringer Ingelheim on the insulin resistance compounds at the preclinical stage, says Carsten Dehning, DeveloGen CFO.
Focused on the discovery and development of novel therapeutics for the treatment of metabolic and endocrine disorders, DeveloGen has particular expertise in the field of diabetes. The insulin resistance target was identified and validated using the company’s functional genomics technology. “Initial compounds that have been discovered and optimized by DeveloGen have proven to be effective in preclinical models of type 2 diabetes and obesity, improving carbohydrate and lipid metabolism while reducing weight gain and preserving beta cell function,” notes Cord Dohrmann, Ph.D., the company’s CEO.
The collaboration with DeveloGen will complement and expand Boehringer Ingelheim’s current diabetes pipeline beyond its late-stage development compounds, points out Andreas Barner, chairman of the board and head of corporate board division pharma research, development and medicine. The firms most advanced type II diabetes candidate is the dipeptidyl peptidase 4 inhibitor, Ondero®, currently in Phase III trials and scheduled for regulatory filing during 2010.
The company also has two SGLT-2 (sodium glucose co-transporter 2) inhibitors in Phase II development: BI 44847 was in-licensed from Ajinomoto, and BI 10773 has been developed through in-house research.
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