Molecular Insight gains license to peptide

Onalta is a radiolabeled peptide that the company intends to develop for the treatment of metastatic pancreatic neuroendocrine and carcinoid tumors in patients whose symptoms are not controlled by somatostatin analogue therapy. Onalta is intended to complement Azedra, Molecular Insight's other clinical stage radiotherapeutic candidate for the treatment of neuroendocrine tumors.

Under terms of the agreement, Molecular Insight Pharmaceuticals will pay Novartis a licensing fee and additional payments upon completion of certain regulatory milestones, with royalties payable to Novartis upon commercialization of Onalta. Further terms of the agreement were not disclosed.

Molecular Insight will assume sponsorship of the investigational new drug application that Novartis has filed with the FDA and is in discussions with the agency on the clinical trial protocol and path to approval for Onalta.