ARTICLE | Company News

BHV Pharma, Libbs deal

November 17, 2014 8:00 AM UTC

BHV granted Libbs exclusive rights in select Latin American countries, including Brazil, to develop and commercialize remogliflozin etabonate. BHV will receive $1.5 million up front and Libbs will fund "a substantial portion" of BHV's Phase IIb trial of the sodium-glucose cotransporter 2 (SGLT2) inhibitor in Type II diabetics, which is slated to start late this year. Libbs will also be responsible for all development, regulatory and commercialization activities in its territories. BHV will receive a percentage of either net sales or net profit in Libbs' territories. Islet Sciences Inc. (OTCBB:ISLT, New York, N.Y.) which is acquiring BHV under a March stock deal, said that additional terms of the deal are not disclosed. The acquisition is subject to approval of a majority of Islet shareholders (see BioCentury, March 17). ...