>>MELVILLE, N.Y.--(BUSINESS WIRE)--Dec. 22, 2005--OSI Pharmaceuticals, Inc. (NASDAQ: OSIP ) announced today that its UK subsidiary focused on the discovery and development of diabetes and obesity therapeutics has granted a worldwide non-exclusive license under its DPIV patent portfolio to a major British pharmaceutical company. The portfolio covers the use of DPIV inhibitors for the treatment of type 2 diabetes and related indications. OSI will receive upfront, milestone and royalty payments. Additional financial terms were not disclosed.
"We believe that this license further validates the strength of our DPIV related patent estate and the importance of this target to the development of innovative new medicines for the treatment of diabetes," stated Anker Lundemose, M.D., Ph.D., President of (OSI) Prosidion. "This is the sixth license to our patent estate we have now granted and we expect to grant additional non-exclusive licenses in the future."
OSI acquired the DPIV technology platform, which includes a Phase II compound, PSN9301, and a portfolio of DPIV medical use patents from Probiodrug AG of Germany in July 2004. The DPIV medical use patents, the subject of the license, include issued patents and pending patent applications corresponding to US 6,303,661, US 6,890,898 and WO 01/72290, with claims covering DPIV as a target for anti-diabetes therapy and the use of combinations of DPIV inhibitors with other anti-diabetes drugs.<<
snip
Cheers, Tuck |
