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news.Arisaph Pharmaceuticals has granted a non-exclusive worldwide license to an unnamed US drug discovery and development company for patents covering the use of DPP-IV inhibitors for the treatment of diabetes and lowering glucose levels.
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Arisaph received a significant upfront payment upon execution and will receive development milestone payments and a royalty on sales. Additional financial terms were not disclosed.
“We are extremely pleased to have completed this non-exclusive license as it validates the strength and value of our patent portfolio for use of DPP-IV inhibitors in diabetes,” said Christopher Kiritsy, president and CEO of Arisaph Pharmaceuticals.
Through an exclusive worldwide license with Tufts University, Arisaph has rights to certain patents for use of DPP-IV inhibitors with other therapeutic agents for treatment of diabetes and other indications.
Such patents arose from discoveries by Dr William Bachovchin, Tufts University, Dr Andrew Plaut, Tufts-New England Medical Center and Dr Daniel Drucker, Toronto General Hospital, University Health Network, University of Toronto.