Under the terms of the licensing agreement, Gastrotech will receive a global exclusive license to develop and market GTP-010 for irritable bowel syndrome (IBS) and functional dyspepsia. Lilly will take an equity stake in Gastrotech and will receive royalties on sales.
The deal follows positive clinical data from a joint Lilly and Gastrotech proof of concept study to assess pain reduction associated with IBS. Gastrotech now plans to develop GTP-010 to treat IBS. GTP-010 is an analogue of GLP-1, a naturally occurring intestinal hormone that plays an important physiological role in assisting the human body to maintain appropriate blood sugar levels and modulate gastric motility following meals.
Enda Kenny, CEO of Gastrotech Pharma, said: “We believe GTP-010 could have enormous potential in treating IBS, for which there is currently no fully effective treatment. The clinical data collected to date has been highly promising, and we hope to develop GTP-010 as a novel therapy for IBS.”