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news.OSI Pharmaceuticals has said that its diabetes and obesity subsidiary, Prosidion, has granted Bristol-Myers Squibb a non-exclusive license for the development and commercialization of diabetes treatments.
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The license agreement will specifically be aimed at the development and commercialization of OSI’s dipeptidyl peptidase IV (DPIV) inhibitors for the treatment of type 2 diabetes. OSI will receive an upfront payment, as well as potential future milestone and royalty payments. Additional financial terms were not disclosed.
“A number of non-exclusive licenses to our DPIV technology have now been granted and OSI expects to grant additional non-exclusive licenses in the future,” stated Anker Lundemose, president of (OSI) Prosidion.
Saxagliptin, an investigational compound currently in phase III development by Bristol-Myers Squibb for the treatment of type 2 diabetes, is included within the scope of this license.