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Ligand Pharmaceuticals, Inc.
Drug Names(s): MB06322
Description: CS-917 is an inhibitor of fructose 1, 6-disphosphatase, also known as FDPase or FBPase. FDPase is a rate-limiting enzyme that catalyzes the second to last step in gluconeogenesis (GNG, the process of making glucose from its own breakdown products or from the breakdown products of lipids or proteins). Blocking FDPase allows inhibition of GNG from all GNG substrates whileavoiding direct effects on certain other metabolic processes.
Deal Structure: Metabasis Therapeutics entered into a collaboration that began in April 1997 with Sankyo to develop novel drugs to treat type II diabetes. Under the terms of the collaboration agreement, Sankyo will continue to provide research funding to Metabasis in the area of diabetes research. Assuming a compound is successfully developed, Metabasis would receiveadditional milestone payments upon completion of certain clinical development and regulatory milestones and would receive royalties on the sale of any product commercialized under the collaboration. Metabasis also retains certain commercial rights in North America.
In March 2008, Metabasis and Daiichi Sankyo terminated their agreement for the development and licensing of CS-917. As a result, all rights and related material will return to Metabasis.
In October 2009, Ligand Pharmaceuticals and Metabasis Therapeutics announced they entered into a definitive merger agreement under which Ligand will acquire all of the outstanding shares...See full deal structure in Biomedtracker
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