Alteon, Gamida deal

The companies entered into a clinical testing and distribution agreement for pimagedine, ALTN's lead product, to treat patients with diabetes and elevated serum cholesterol levels.

Gamida (formerly Eryphile) will conduct an Israeli Phase II trial of the drug at its own expense, in return for exclusive distribution rights in Israel, Bulgaria, Cyprus, Jordan and South Africa. Simultaneously, ALTN will conduct a U.S. Phase II trial. ...