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news.Zealand Pharma has received a EUR500,000 milestone payment as part of its license agreement with Helsinn Healthcare for the development of ZP1846 for the treatment of chemotherapy-induced diarrhoea.
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In November 2008, Zealand Pharma out-licensed ZP1846 to Helsinn Healthcare, under which Helsinn Healthcare received a worldwide exclusive license to ZP1846 and assumed responsibility for all further development, regulatory approvals, manufacturing, marketing and sales of ZP1846.
Under the terms of the agreement, Zealand Pharma will receive development and sales based milestone payments of up to EUR140m, of which EUR10m has been received to date.
Zealand will also receive a royalty on sales has it has an option to obtain sales and marketing rights for the Nordic countries.
Recently, Helsinn Healthcare has initiated a Phase Ib trial in five centres in Europe involving colorectal cancer patients following the completion of a Phase Ia clinical study of ZP1846 by Zealand Pharma in the US.
Zealand Pharm president and CEO David Solomon said that they are pleased with the development of this important program with the partner Helsinn Healthcare and encouraged by the data that has been generated to date, which has concluded that ZP1846 is safe and well tolerated.
"We look forward to continuing to work closely together on the further development of ZP1846, a novel therapy discovered by Zealand Pharma scientists which has the potential to address a severe unmet medical need for patients," Solomon said.
"ZP1846 is related to another GLP-2 compound under development at Zealand Pharma, ZP1848 for the treatment of crohn’s disease, with full rights still with Zealand Pharma."