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.