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Amgen Buys Rights to Array Drug
In need of a cash infusion, Array BioPharma has received a $60 million up-front payment from Amgen for worldwide rights to ARRY-403, a phase I glucokinase activator for type 2 diabetes. Glucokinase activators stimulate the pancreas to secrete insulin while increasing the liver's glucose intake and reducing its secretion. The Boulder, Colo.–based biotech firm told investors it would make a deal before year's end. Array has six other homegrown products in clinical development with partners that include Genentech and Celgene. Amgen also has agreed to fund a 2-year research collaboration to identify and advance second-generation glucokinase activator compounds. Array can realize up to $666 million in clinical and commercial milestones, although some are pegged to at least one backup compound reaching market in addition to 403. Array can receive double-digit royalties on sales of 403 should it reach market, and the company retains an option to copromote the drug in the United States.
J&J, Diabetes Group to Collaborate
The Juvenile Diabetes Research Foundation announced that it will work with Johnson & Johnson to speed the development of drugs to promote the survival and function of insulin-producing cells in diabetes patients. The program will fund 1- or 2-year research projects at academic centers around the world that could lead to novel drug targets and industry collaborations for the treatment of type 1 diabetes. “This program will clearly help accelerate the translation of basic research into therapies useful in the treatment of diabetes,” said Alan J. Lewis, Ph.D., JDRF president and CEO. Funding decisions will be led by a combined review committee consisting of representatives from the JDRF and the Johnson & Johnson Corporate Office of Science and Technology and its affiliates, with oversight from a scientific advisory board and JDRF volunteers.
Diagnos Licensed for Retinal Device
Diagnos has received a Health Canada Class 2 Medical Device License for its CARA-CCE (Computer Assisted Retinal Analysis) device, the Brossard, Quebec firm has announced. “Health Canada approval enables us to begin to market and sell our product to support diabetic retinopathy screening,” said Peter Nowacki, the firm's general manager–medical. Company president André Larente noted that “Because diabetics require regular screening for eye disease, we estimate the global value of the retinopathy screening market at $600 million annually. We have established a global sales network and feel confident in our ability to begin to generate revenues with CARA.” CARA performs a proprietary enhancement of retinal images and can automatically highlight areas of possible pathology to the user, according to the company., which noted that “CARA's image enhancement algorithms make standard retinal images sharper, clearer, and easier to read.” It is an automated platform accessible securely over the Internet, and is compatible with all recognized image formats and brands of fundus cameras.
Biocompatibles Begins CM3 Trials
Biocompatibles International will initiate clinical trials for CM3—a type 2 diabetes drug—this month, the company announced in December. Biocompatibles entered into an agreement with AstraZeneca in December 2008 to develop CM3, a glucagon-like peptide-1 (GLP-1) analogue invented by Biocompatibles subsidiary CellMed. The agreement included preclinical, phase I and phase IIa activities managed by CellMed. As part of the development agreement, AstraZeneca will pay Biocompatibles a $6.9 million installment payment, part of a total payment of $14.2 million. The agreement also provides AstraZeneca with an exclusive option to license relevant patents for further exploitation at any time during the course of the development program, which is expected to be completed in 2012. “The first-generation GLP-1s have established the drug class in treating type 2 diabetes but have also shown some limitations,” said Biocompatibles CEO Crispin Simon. “We see CM3 as a second generation GLP-1, which has the potential to overcome these limitations.”
Reporters and editors from Elsevier's “The Pink Sheet” contributed to this column.
Amgen Buys Rights to Array Drug
In need of a cash infusion, Array BioPharma has received a $60 million up-front payment from Amgen for worldwide rights to ARRY-403, a phase I glucokinase activator for type 2 diabetes. Glucokinase activators stimulate the pancreas to secrete insulin while increasing the liver's glucose intake and reducing its secretion. The Boulder, Colo.–based biotech firm told investors it would make a deal before year's end. Array has six other homegrown products in clinical development with partners that include Genentech and Celgene. Amgen also has agreed to fund a 2-year research collaboration to identify and advance second-generation glucokinase activator compounds. Array can realize up to $666 million in clinical and commercial milestones, although some are pegged to at least one backup compound reaching market in addition to 403. Array can receive double-digit royalties on sales of 403 should it reach market, and the company retains an option to copromote the drug in the United States.
J&J, Diabetes Group to Collaborate
The Juvenile Diabetes Research Foundation announced that it will work with Johnson & Johnson to speed the development of drugs to promote the survival and function of insulin-producing cells in diabetes patients. The program will fund 1- or 2-year research projects at academic centers around the world that could lead to novel drug targets and industry collaborations for the treatment of type 1 diabetes. “This program will clearly help accelerate the translation of basic research into therapies useful in the treatment of diabetes,” said Alan J. Lewis, Ph.D., JDRF president and CEO. Funding decisions will be led by a combined review committee consisting of representatives from the JDRF and the Johnson & Johnson Corporate Office of Science and Technology and its affiliates, with oversight from a scientific advisory board and JDRF volunteers.
Diagnos Licensed for Retinal Device
Diagnos has received a Health Canada Class 2 Medical Device License for its CARA-CCE (Computer Assisted Retinal Analysis) device, the Brossard, Quebec firm has announced. “Health Canada approval enables us to begin to market and sell our product to support diabetic retinopathy screening,” said Peter Nowacki, the firm's general manager–medical. Company president André Larente noted that “Because diabetics require regular screening for eye disease, we estimate the global value of the retinopathy screening market at $600 million annually. We have established a global sales network and feel confident in our ability to begin to generate revenues with CARA.” CARA performs a proprietary enhancement of retinal images and can automatically highlight areas of possible pathology to the user, according to the company., which noted that “CARA's image enhancement algorithms make standard retinal images sharper, clearer, and easier to read.” It is an automated platform accessible securely over the Internet, and is compatible with all recognized image formats and brands of fundus cameras.
Biocompatibles Begins CM3 Trials
Biocompatibles International will initiate clinical trials for CM3—a type 2 diabetes drug—this month, the company announced in December. Biocompatibles entered into an agreement with AstraZeneca in December 2008 to develop CM3, a glucagon-like peptide-1 (GLP-1) analogue invented by Biocompatibles subsidiary CellMed. The agreement included preclinical, phase I and phase IIa activities managed by CellMed. As part of the development agreement, AstraZeneca will pay Biocompatibles a $6.9 million installment payment, part of a total payment of $14.2 million. The agreement also provides AstraZeneca with an exclusive option to license relevant patents for further exploitation at any time during the course of the development program, which is expected to be completed in 2012. “The first-generation GLP-1s have established the drug class in treating type 2 diabetes but have also shown some limitations,” said Biocompatibles CEO Crispin Simon. “We see CM3 as a second generation GLP-1, which has the potential to overcome these limitations.”
Reporters and editors from Elsevier's “The Pink Sheet” contributed to this column.
Amgen Buys Rights to Array Drug
In need of a cash infusion, Array BioPharma has received a $60 million up-front payment from Amgen for worldwide rights to ARRY-403, a phase I glucokinase activator for type 2 diabetes. Glucokinase activators stimulate the pancreas to secrete insulin while increasing the liver's glucose intake and reducing its secretion. The Boulder, Colo.–based biotech firm told investors it would make a deal before year's end. Array has six other homegrown products in clinical development with partners that include Genentech and Celgene. Amgen also has agreed to fund a 2-year research collaboration to identify and advance second-generation glucokinase activator compounds. Array can realize up to $666 million in clinical and commercial milestones, although some are pegged to at least one backup compound reaching market in addition to 403. Array can receive double-digit royalties on sales of 403 should it reach market, and the company retains an option to copromote the drug in the United States.
J&J, Diabetes Group to Collaborate
The Juvenile Diabetes Research Foundation announced that it will work with Johnson & Johnson to speed the development of drugs to promote the survival and function of insulin-producing cells in diabetes patients. The program will fund 1- or 2-year research projects at academic centers around the world that could lead to novel drug targets and industry collaborations for the treatment of type 1 diabetes. “This program will clearly help accelerate the translation of basic research into therapies useful in the treatment of diabetes,” said Alan J. Lewis, Ph.D., JDRF president and CEO. Funding decisions will be led by a combined review committee consisting of representatives from the JDRF and the Johnson & Johnson Corporate Office of Science and Technology and its affiliates, with oversight from a scientific advisory board and JDRF volunteers.
Diagnos Licensed for Retinal Device
Diagnos has received a Health Canada Class 2 Medical Device License for its CARA-CCE (Computer Assisted Retinal Analysis) device, the Brossard, Quebec firm has announced. “Health Canada approval enables us to begin to market and sell our product to support diabetic retinopathy screening,” said Peter Nowacki, the firm's general manager–medical. Company president André Larente noted that “Because diabetics require regular screening for eye disease, we estimate the global value of the retinopathy screening market at $600 million annually. We have established a global sales network and feel confident in our ability to begin to generate revenues with CARA.” CARA performs a proprietary enhancement of retinal images and can automatically highlight areas of possible pathology to the user, according to the company., which noted that “CARA's image enhancement algorithms make standard retinal images sharper, clearer, and easier to read.” It is an automated platform accessible securely over the Internet, and is compatible with all recognized image formats and brands of fundus cameras.
Biocompatibles Begins CM3 Trials
Biocompatibles International will initiate clinical trials for CM3—a type 2 diabetes drug—this month, the company announced in December. Biocompatibles entered into an agreement with AstraZeneca in December 2008 to develop CM3, a glucagon-like peptide-1 (GLP-1) analogue invented by Biocompatibles subsidiary CellMed. The agreement included preclinical, phase I and phase IIa activities managed by CellMed. As part of the development agreement, AstraZeneca will pay Biocompatibles a $6.9 million installment payment, part of a total payment of $14.2 million. The agreement also provides AstraZeneca with an exclusive option to license relevant patents for further exploitation at any time during the course of the development program, which is expected to be completed in 2012. “The first-generation GLP-1s have established the drug class in treating type 2 diabetes but have also shown some limitations,” said Biocompatibles CEO Crispin Simon. “We see CM3 as a second generation GLP-1, which has the potential to overcome these limitations.”
Reporters and editors from Elsevier's “The Pink Sheet” contributed to this column.