Under the terms of the agreement, Debiopharm shall pay Mercury for continued research and development support, predefined advanced milestone payments during the development of the compound and a royalty based on net sales of commercialised product. First entry into man is expected for 2012.
"We are very enthusiastic about our collaboration with an experienced innovative biotech company like Mercury. Diabetes is a major cause of morbidity and mortality by disease globally and we are determined to improve the quality of patient's lives by developing a new therapy," said Rolland-Yves Mauvernay, President and Founder of Debiopharm Group."
"This alliance with Debiopharm represents important validation of
Mercury's technology and of the growing appreciation of AMPK as a novel drug
target for metabolic diseases. The development of an orally available direct
activator of AMPK has the potential to be a first-in-class therapeutic for
type 2 diabetes, hyperlipidemia, and a number of indications in oncology,"
Diabetes is a disease in which the body does not produce or properly use insulin. Insulin is a hormone that is needed to convert sugar, starches and other food into energy needed for daily life. The cause of diabetes continues to be a mystery, although both genetics and environmental factors such as obesity and lack of exercise appear to play roles.
Prevalence of diabetes worldwide is estimated at 180 million people, WHO predicts this number will rise to 366 million by 2030.
Type 2 diabetes (formerly called non-insulin-dependent or adult-onset) results from the body's ineffective use of insulin. Type 2 diabetes comprises 90% of people with diabetes around the world, and is largely the result of excess body weight and physical inactivity.
About Debiopharm Group
Debiopharm Group is a Swiss-based global biopharmaceutical group of companies with a focus on the development of prescription drugs that target unmet medical needs. The group in-licenses promising biological and small molecule drug candidates. It develops its products for global registration and maximum commercial potential. Once registered, the products are out-licensed to pharmaceutical partners for sales and marketing.
Debiopharm independently funds the worldwide development of all of its products while providing expertise in pre-clinical and clinical trials, manufacturing, drug delivery and formulation, and regulatory affairs.
Founded in 1979 and headquartered in
For more information on Debiopharm Group, please visit: http://www.debiopharm.com
About Mercury Therapeutics, Inc.
For more information on Mercury Therapeutics please visit: http://www.mtipharm.com.
Debiopharm S.A. Contact: Maurice Wagner Director Corporate Affairs & Communication Tel: +41(0)21-321-01-11 Fax: +41(0)21-321-01-69 email@example.com Additional Media Contacts: In London Maitland Brian Hudspith Tel: +44(0)20-7379-5151 firstname.lastname@example.org In New York Russo Partners, LLC Martina Schwarzkopf, Ph.D. Account Executive Tel: +1-212-845-4292 Fax: +1-212-845-4260 email@example.com Mercury Therapeutics Contact: Neal Birnberg, CEO Tel: +1-781-932-1125 Fax: +1-781-347-4737 firstname.lastname@example.org
SOURCE The Debiopharm Group