Zealand Pharma, Eli Lilly deal
Zealand partnered with Eli Lilly to discover and develop peptide therapeutics to treat Type II diabetes and obesity based on a peptide-hormone approach discovered by the pharma. Zealand declined to disclose the number or identity of targets included in the deal, but said it is a potential multi-target collaboration that may also be expanded into other disease areas. The partners are not disclosing financial terms, but said they will share in the "funding, risk and reward." Dechert LLP advised Zealand.
Zealand's first invented peptide product is Lyxumia lixisenatide, which the European Commission approved in February to improve glycemic control in adult Type II diabetics. Partner Sanofi (Euronext:SAN; NYSE:SNY, Paris, France) launched Lyxumia in Germany in March and is continuing roll-out of the product throughout Europe. Sanofi has global commercialization rights to Lyxumia from Zealand under an amended 2003 deal, which the partners amended in 2010 to add combination products, including Lyxumia (see BioCentury, June 14, 2010). ...