Upfront and near-term payments total $36.5 million.
Boehringer Ingelheim and Vitae Pharmaceuticals are collaborating to develop and commercialize compounds against a particular target to treat diabetes and metabolic syndrome-related diseases. Vitae is eligible to $336.5 million in upfront and milestone payments as well as research funding over the course of the partnership.
The target under investgation is 11beta-HSD1, an enzyme involved in cortisol production. The companies will combine their related programs and work together to identify and advance inhibitor compounds for clinical development. The firms believe that these candidates will have utility in the treatment of diseases such as diabetes, obesity, dyslipidemia, and hypertension.
Vitae will receive $36.5 million in upfront and near-term fees. This comprises cash, an equity investment, and research funding. In addition, Boehringer Ingelheim could pay up to $300 million based on the achievement of development, regulatory, and commercial program goals. Further milestone payments may be achieved with additional compounds and/or additional approved indications. Vitae will receive royalties on all future product sales.
Boehringer Ingelheim will lead development and commercialization of products. Vitae will have the right to develop products independently for certain indications.
“Vitae has discovered and rapidly advanced novel, highly potent 11beta-HSD1 inhibitors in multiple series over the past 20 months using its structure-based drug design technology CONTOUR™,” points out Jeffrey Hatfield, CEO of Vitae. “Our collaboration with Boehringer Ingelheim and its team of metabolic disease experts provides the resource and capabilities to drive this program into the clinic.”
