Gastrotech Pharma enters agreement with Eli Lilly  

2004.04.02
The Danish-Swedish biotech company has entered a licence agreement with Eli Lilly to develop drugs for the treatment of digestive tract disorders

The Danish-Swedish biotech company Gastrotech Pharma has entered a licence agreement with Eli Lilly to develop drugs for the treatment of digestive tract disorders. Financial information concerning the agreement has not been disclosed. Claes Post, managing director of Gastrotech Pharma says however that Gastrotech will receive milestone payments as well as royalties from sales of developed drugs. He says the agreement is a great step forward for Gastrotech which was founded less than one year ago.

 

The licence agreement initially includes a glucagon-like peptide developed by Gastrotech Pharma for the treatment of irritable bowel syndrome. The drug candidate is currently in clinical phase II trial at five centres in Denmark and Sweden. The trials are expected to be completed in one year and the new drug could be on the market by 2007 or 2008. The news is reported by BiotechDenmark online.

 

Link > Gastrotech Pharma 

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