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news.Corautus Genetics is to collaborate with Caritas St Elizabeth's Medical Center of Boston to evaluate the safety and efficacy of its diabetic nerve damage drug, VEGF-2. Corautus will provide the drug for evaluation in a phase I trial for treating the disorder now underway at Caritas St Elizabeth's Medical Center.
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If the phase I trial data are promising, Corautus has the exclusive right to develop and commercialize VEGF-2 for the treatment of diabetic neuropathy, and will receive the benefit of the data and research from the phase I trial conducted by Caritas St Elizabeth’s Medical Center (CSEMC).
Terms of the license agreement include milestone payments and royalties based on commercial product sales of VEGF-2.
Richard Otto, president and CEO of Corautus, stated, “We are pleased to continue and expand our collaboration with such a prestigious research institution as Caritas St. Elizabeth’s Medical Center. This new agreement has the potential of expanding our therapeutic pipeline with an indication that addresses a very large medical need.”
According to the American Diabetes Association, 18.2 million people have diabetes in the US and more than 1.2 million Americans over the age of 20 years old are diagnosed with diabetes each year. An estimated 50% of those with diabetes have some form of nerve damage, but not all have associated symptoms.