Tularik Earns Milestone Payment from Eli Lilly and Company
Thursday December 4, 8:03 am ET
Oral Factor Xa Inhibitor Enters Phase 2 Study for the Treatment of Thrombotic Diseases
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Dec. 4, 2003--Tularik Inc. (Nasdaq:TLRK - News) has earned an undisclosed milestone payment from its corporate partner, Eli Lilly and Company (NYSE:LLY - News), which has begun Phase 2 clinical trials of an orally available Factor Xa inhibitor for the prevention and treatment of thrombotic diseases.
"We are pleased that the results from the Phase 1 study support moving this molecule to the next stage of clinical development," said David V. Goeddel, Ph.D., CEO of Tularik. "The beginning of this study not only triggers a milestone payment to Tularik but adds another Phase 2 drug candidate to our maturing clinical pipeline."
The multi-year Lilly collaboration was established to design and optimize inhibitors of Factor Xa using Tularik's computer-aided molecular design (CAMD) technology, as well as to investigate other potential anti-thrombotic targets. Tularik received a milestone payment in November 2001 when this Factor Xa inhibitor progressed to an advanced stage of preclinical development and in November 2002 when it progressed into Phase 1 testing. In addition to the current milestone payment, Tularik is entitled to additional payments as this compound progresses through clinical trials to registration. Royalties are payable on sales of products emerging from the collaboration.
Heparin, an injectable drug for the treatment of thrombotic diseases, inhibits Factor Xa by an indirect mechanism. Direct acting Factor Xa inhibitors offer the potential advantage of simple oral administration with the aim of preventing or limiting clot formation. Blood clots cause serious and often fatal conditions, including heart attacks, strokes and deep vein thrombosis. Over 10 million people worldwide are eligible to receive oral anticoagulants for the prevention and treatment of thrombotic diseases. Datamonitor forecasts the global market for anticoagulants could reach $9.6 billion by 2008. ... |
