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news.Elixir Pharmaceuticals has signed a definitive agreement with Japan's Kissei Pharmaceutical for the exclusive right to develop and commercialize Glufast, a type II diabetes treatment, in the US, Canada, and Latin America.
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Currently marketed in Japan, Glufast is an insulin secretagogue that lowers post-meal glucose levels by improving the body’s own ability to produce insulin. Glufast has undergone extensive clinical development demonstrating the product’s ability to safely and effectively treat type II diabetes.
“With the signing of this agreement, Elixir gains a later-stage product that is very close to market. The Company’s overall strategy is to secure a strong revenue base from products to treat metabolic disease which can then fund the development of the company’s earlier-stage clinical and preclinical pipeline which will drive Elixir’s long-term success,” said William Heiden, Elixir’s president and CEO.
Type II diabetes is a serious and debilitating disease, affecting 14 million patients in the US alone.