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Phenomix grants Italian firm European rights to diabetes drug
January 2010
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SAN DIEGOŚPhenomix Corp. announced in December an agreement with Parma, Italy-based research firm Chiesi Farmaceutici to develop and commercialize dutogliptin (PHX1149) in Europe and additional territories including Brazil, Russia and all other members of the Commonwealth of Independent States, Turkey and Northern Africa.
 
Dutogliptin is an orally administered, small-molecule, dipeptidyl-peptidase-4 (DPP-4) inhibitor currently undergoing Phase III clinical development in type 2 diabetes mellitus. Under the agreement, Chiesi will provide Phenomix with up to $28 million in near-term cash and equity payments and up to $163 million in total payments upon completion of certain development, regulatory and commercialization milestones. Phenomix will also be eligible for royalties on dutogliptin sales. Chiesi will be responsible for product development, regulatory approval and commercialization in its territories.

 

"Chiesi has a proven track record of development and commercial expertise in the primary care and cardiometabolic space and has the capabilities to bring dutogliptin to a much broader patient population," says Dr. Laura Shawver, CEO of Phenomix.

 

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