>>I think the price, however, is stuck here (or lower) until they partner at least the GLP-1 oral candidate. <<
Sounds like this agreement covers GLP-1, no?
LILLY AND THERATECH ANNOUNCE MULTI-PRODUCT
PEPTIDE DELIVERY DEVELOPMENT AGREEMENT
INDIANAPOLIS, IN AND SALT LAKE CITY, UT, January 14, 1997 - Eli Lilly and Company (NYSE: LLY) and TheraTech, Inc. (Nasdaq: THRT) announced today that they have entered into a multi product collaborative agreement for the development and marketing of peptide drugs utilizing TheraTech's patented oral transmucosal delivery system. Lilly's peptide drugs are at various stages of preclinical and clinical development and a majority are in the endocrine area.
Under the terms of the agreement, TheraTech will receive initial fees, funding for research, milestone payments and royalties on potential sales. Lilly will receive exclusive commercialization rights for the oral transmucosal delivery of certain peptide drugs.
The TheraTech transmucosal delivery system is a small, adhesive-backed tablet that is placed in the mouth between the lip and gum. As it slowly dissolves, it delivers peptide drugs directly into a patient's blood stream through the mucous membrane of the mouth.
"We are very pleased to have entered into this collaboration with TheraTech," said Dr. Richard D. DiMarchi, vice president, research technologies and proteins for Lilly. "TheraTech's technology for delivering peptides non-invasively offers an attractive, patient-friendly alternative to injections for delivering these important drugs."
"TheraTech is delighted to have Lilly as our partner for the development of these peptide drugs," noted Dr. Dinesh C. Patel, the company's president and chief executive officer. "Lilly's expertise and leadership position in peptide technology and in the endocrine area is well known. These, coupled with their marketing strength, makes Lilly an excellent partner."
TheraTech, Inc., headquartered in Salt Lake City, Utah. is a leader in the development of innovative products based on controlled release drug delivery technologies. Working independently, as well with corporate partners, the Company has developed a wide range of drug delivery products, including transdermal patches, oral controlled-release products and topical preparations, as well as the oral transmucosal products for the delivery of macromolecules, including peptide drugs, that are the subject of this agreement
Lilly is a global research-based pharmaceutical corporation headquartered in Indianapolis, Ind, that is dedicated to creating and delivering innovative pharmaceutical-based health care solutions which enable people to live longer, healthier and more active lives.
This release contains forward looking statements. All statements released by TheraTech, Inc. that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward looking statements involve risk and uncertainties that may affect the Company's business prospects and performance. This includes economic, competitive, governmental, technological and other factors discussed in the Company's filings with the Securities and Exchange Commission on forms 10-K, and 10-Q.
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FOR INFORMATION CONTACT:TheraTech:Lilly:Alexander L. SearlJames P. KappelAlan Behunin(317) 276-5795(801) 588-6200 |
