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Royalty Pharma AG

Drug Names(s): 15P93/01

Description: P93/01 is an inhibitor of di-peptidyl peptidase-IV (DPP-IV), an enzyme that breaks down glucagon-like peptide-1 (GLP-1). GLP-1 binds to receptors on pancreatic beta cells stimulating the release of the hormone insulin. GLP-1 also reduces the secretion of glugacon, a hormone produced by the pancreas that stimulates the liver to convert glycogen to glucose thus increasing blood sugar levels. By delaying the degradation of GLP-1, DPP-IV inhibitors extends the action of insulin while also suppressing the release of glucagon.

Deal Structure: OSI Pharmaceuticals announced on December 22, 2005 that its UK subsidiary focused on the discovery and development of diabetes and obesity therapeutics has granted a worldwide non-exclusive license under its DPIV patent portfolio to a major British pharmaceutical company. The portfolio covers the use of DPIV inhibitors for the treatment of type 2 diabetes and related indications. OSI will receive upfront, milestone and royalty payments. Additional financial terms were not disclosed.

OSI acquired the DPIV technology platform, which includes a Phase II compound, PSN9301, and a portfolio of DPIV medical use patents from Probiodrug AG of Germany in July 2004. The DPIV medical use patents, the subject of the license, include issued patents and pending patent applications corresponding to US 6,303,661, US 6,890,898 and WO 01/72290, with claims covering DPIV as a target for anti-diabetes therapy and the use of combinations of DPIV inhibitors with other anti-diabetes drugs.

Astellas...See full deal structure in Biomedtracker

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