Boehringer inks $64M diabetes, obesity drug deal
Zealand Pharma, a Copenhagen-based biopharmaceutical company, and Boehringer Ingelheim have signed an exclusive global license and collaboration agreement for dual-acting glucagon and GLP-1 receptor agonists for the treatment of patients with type 2 diabetes and patients with obesity.
As part of the agreement, Ingelheim, Germany-based Boehringer will obtain global development and commercialization rights to ZP2929, Zealand’s glucagon/GLP-1 dual agonist drug candidate. Zealand will be responsible for conducting the first Phase I study with ZP2929 and Boehringer will fund the research, development and commercialization of products under the agreement.
Depending on the pre-defined development, regulatory and commercial milestones, Zealand is eligible to receive payments for ZP2929 and also may receive additional milestone payments if other products covered by the collaboration are advanced through development. Further, Zealand is entitled to tiered royalties that range from high single to low double digits on global sales of products under the agreement. Zealand will retain co-promotion rights in Scandinavia.
During the first two years of collaboration, Zealand is eligible to receive signature, milestone and other payments of up to €41 million ($58.09 million U.S.), including cost reimbursements and including research funding of up to €4 million ($5.67 million U.S.). In their research collaboration, the companies will focus on the characterization, identification and development of additional glucagon/GLP-1 dual agonists for the exploration of new indications, formulations and delivery systems.
As part of the agreement, Ingelheim, Germany-based Boehringer will obtain global development and commercialization rights to ZP2929, Zealand’s glucagon/GLP-1 dual agonist drug candidate. Zealand will be responsible for conducting the first Phase I study with ZP2929 and Boehringer will fund the research, development and commercialization of products under the agreement.
Depending on the pre-defined development, regulatory and commercial milestones, Zealand is eligible to receive payments for ZP2929 and also may receive additional milestone payments if other products covered by the collaboration are advanced through development. Further, Zealand is entitled to tiered royalties that range from high single to low double digits on global sales of products under the agreement. Zealand will retain co-promotion rights in Scandinavia.
During the first two years of collaboration, Zealand is eligible to receive signature, milestone and other payments of up to €41 million ($58.09 million U.S.), including cost reimbursements and including research funding of up to €4 million ($5.67 million U.S.). In their research collaboration, the companies will focus on the characterization, identification and development of additional glucagon/GLP-1 dual agonists for the exploration of new indications, formulations and delivery systems.