INDIANAPOLIS, Oct. 9, 2015 /PRNewswire/ -- Eli Lilly and Company (NYSE:LLY) and Locemia Solutions today announced Lilly has acquired worldwide rights to Locemia's intranasal glucagon, a potential treatment for severe hypoglycemia in people with diabetes treated with insulin. Intranasal glucagon, which is currently in Phase III clinical trial testing, could be the first needle-free rescue treatment for severe hypoglycemia.
Intranasal glucagon uses a proprietary glucagon nasal powder formulation that is delivered in an emergency situation using a single-use, ready-to-use device. The caregiver presses a small plunger on the bottom of the device to release the glucagon as a puff in the nose, where the glucagon is absorbed in the nasal passages.
"If approved, glucagon nasal powder would be an important innovation for people with diabetes and an exciting addition to our product portfolio," said Enrique Conterno, president, Lilly Diabetes. "Administration of glucagon is critical when people with diabetes experience a severe hypoglycemic episode, and in an emergency situation, not having to reconstitute or inject the medicine would reduce the complexity in an already stressful situation. We look forward to bringing this product to market. "
"Locemia's mission has been to find an innovative approach to make severe hypoglycemia rescue simple. We believe needle-free glucagon nasal powder could positively impact the lives of those who use insulin and expand the community of people who could take action in a severe hypoglycemia emergency," said Dr. Claude Piche, CEO of Locemia Solutions.
"We are thrilled that Lilly, with its global expertise and heritage in diabetes, has made this commitment to advance our innovative glucagon nasal powder. We believe that, with Lilly's leadership, a less complex approach to glucagon delivery could have a broad impact beyond just rescue treatment for insulin users and those who touch their lives," said Robert Oringer, Chairman of Locemia Solutions.
Financial terms have not been disclosed.
About Eli Lilly and Company External Innovation Our long-term commitment to scientific excellence at Lilly is the foundation for our success in identifying, accessing and shaping external innovation.
About Eli Lilly and Company Lilly is a global healthcare leader that unites caring with discovery to make life better for people around the world. We were founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today we remain true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism. To learn more about Lilly, please visit us at www.lilly.com and newsroom.lilly.com/social-channels.
About Locemia Solutions Locemia Solutions is a privately held, specialty pharmaceutical company located in Montreal, Canada. Locemia focuses on bringing innovative solutions to people with diabetes. Our team has years of experience in developing and commercializing diabetes-related products and services. To learn more about Locemia, please visit us at www.locemia.com.
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995)about the acquisition by Lilly of worldwide rights to Locemia Solutions' dry mist nasal glucagon and reflects Lilly's current beliefs. However, there are substantial risks and uncertainties in the process of drug research, development, and commercialization. There is no guarantee that the acquisition will yield successful results, that the dry mist nasal glucagon will be approved to treat insulin coma or insulin reaction resulting from severe low blood sugar, or that either company will achieve the anticipated benefits. For further discussion of these and other risks and uncertainties, see Lilly's most recent 10-K and 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.