Halle (Saale), Germany //
Probiodrug AG announced today that under the first phase of its licensing program, it has granted Ferring BV and its sublicensee, Ortho-McNeil Pharmaceuticals, a Johnson & Johnson company, a non-exclusive license for these companies to develop inhibitors of dipeptidyl peptidase IV (DP IV) under certain of probiodrug’s method patents and patent applications for use in diabetes and obesity. Financial details were not disclosed.
The license includes rights to US Patent No. 6,303,661 and its family of international patent rights as well as certain other pending, use patent applications. The license rights are subject to an upfront payment, to development based milestone payments and royalty fees on net sales. This license follows two previous licensing arrangements under which probiodrug granted non-exclusive rights covered by the ‘661 patent family.
Probiodrug is pleased that the strength of its developing patent portfolio has been recognized by these pharmaceutical companies. We are convinced that the therapeutic inhibition of DP IV as an approach to diabetes management will represent the next generation of products to successfully improve the quality of life for Type 2 diabetes patients, noted Hans-Ulrich Demuth, Chief Scientific Officer of probiodrug.
Ferring’s research efforts in the DP IV area has led to the discovery of new, proprietary DP IV inhibitors with a potential for offering a new approach to the management of diabetes and obesity. Ferring’s compounds are the result of a combined chemistry and pharmacology research program at Ferring’s discovery units in Chilworth, UK and San Diego, USA,” noted Dr. Ronald Nardi, CSO and Executive VP, R&D. Ferring will now team up with Ortho-McNeil scientists to continue the work with the aim to select a compound for development.
Probiodrug AG is a biopharmaceutical company that discovers, develops, and intends to commercialize therapeutic medicines for the treatment of diabetes, obesity and other serious medical conditions based on its detailed understanding of the actions of DP IV and related enzymes. The world market of oral antidiabetics was $7.6 billion in 2001 and has grown from 2000 by 30%.
Konrad Glund, Ph.D.
Tel.: +49 345 55599-00
Ronald Nardi, Ph.D.
Tel.: +45 8833 8834