Under the one-year extension, Metabolex will receive research funding and screening and development milestones from Astellas Pharma (formerly Yamanouchi Pharmaceutical).
The two companies initiated their research collaboration, focused on the discovery, development, and commercialization of new therapeutics for type 2 diabetes, insulin resistance, impaired glucose tolerance and obesity, in late March 2002. Metabolex could receive royalties on eventual sales of any product emerging from the collaboration, and will retain co-promotion rights in North and South America.
Astellas Pharma has already selected several novel targets for drug screening, including a membrane receptor, a functional protein and a metabolic enzyme, through an analysis of Metabolex’s proprietary database of genes.
“Astellas Pharma’s decision to extend its research collaboration with us is a testament to our successful partnership to date” said Dr Harold Van Wart, president and chief executive officer of Metabolex. “Our hope is that the current targets and those that we are researching will result in the development of several promising drug candidates to treat diabetes and obesity, two conditions that are increasing to epidemic proportions.”