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news.Metabolex has signed a global development and license agreement with Ortho-McNeil-Janssen Pharmaceuticals (OMJPI) to further develop and discover compounds for the treatment of type 2 diabetes and other disorders.
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As per the agreement, OMJPI is expected to get an exclusive worldwide license to manufacture, develop and commercialise several Metabolex programs which are currently at the preclinical stage.
Metabolex is expected to receive an upfront payment and could be eligible to receive development, regulatory, and commercial milestones up to $330m.
Additionally, Metabolex is also eligible to receive royalties on worldwide sales of marketed products.
Harold Van Wart, president and CEO of Metabolex, said: “We look forward to this partnership and to maximising the significant potential of Metabolex’s programs to bring first-in-class therapies to patients with type 2 diabetes and other disorders.”
Metabolex is a biopharmaceutical company focused on the discovery and development of proprietary new medicines for the treatment of metabolic diseases, with an emphasis on type 2 diabetes.