OSI Pharmaceuticals Grants License to Bristol-Myers Squibb under Dipeptidyl Peptidase IV (DPIV) Patent Portfolio for the Treatment of Type 2 Diabetes
December 14, 2006
Digg This! | Send to Newsvine | Add to del.icio.usDecember 14, 2006 (BIOWIRE) - OSI Pharmaceuticals, Inc. announced today that its diabetes and obesity subsidiary, (OSI) Prosidion, has granted Bristol-Myers Squibb Company a worldwide non-exclusive license under its DPIV patent portfolio for the development and commercialization of DPIV inhibitors for the treatment of type 2 diabetes and related indications. OSI will receive an upfront payment, as well as potential future milestone and royalty payments. Additional financial terms were not disclosed.
"We are pleased to see the expanded use of this patent estate as new products in the significant emerging market for DPIV inhibitors are being brought forward," stated Anker Lundemose, M.D., Ph.D., President of (OSI) Prosidion. "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."
OSI's DPIV patents which are the subject of the license, include issued patents and pending patent applications corresponding to WO 97/40832, WO 99/38501, WO 01/72290, WO03/015775 and WO 04/017989, with claims covering DPIV as a target for anti-diabetes therapy and the use of combinations of DPIV inhibitors with other anti-diabetes drugs such as metformin. 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.
Posted by dlife at December 14, 2006 10:10 AM