Biocon, Bristol-Myers deal

Biocon granted Bristol-Myers an exclusive option to license worldwide rights outside of India to diabetes product IN-105. Biocon will further characterize the oral insulin analog through Phase II testing, after which BMS would be responsible for further development and commercialization outside of India. Biocon received an undisclosed upfront payment for the option and is eligible to receive a license fee and milestones, plus royalties.

Last year, Biocon said IN-105 missed the primary endpoint of reducing HbA1c by 0.7% compared to placebo at six months in an Indian Phase III trial to treat Type II diabetes. Biocon said there was an unexpectedly high placebo response in the trial (see BioCentury, Jan. 17, 2011). ...