FONT-SIZE Plus   Neg

Vanda Pharma Acquires Rights To NK-1 Receptor Antagonist From Eli Lilly

Vanda Pharmaceuticals Inc. (VNDA) said it has acquired an exclusive world-wide license from Eli Lilly and Co. (LLY) to develop and commercialize a small molecule neurokinin 1 receptor, or NK-1R, antagonist for all human indications.

As per the terms of the agreement with Eli Lilly, Vanda Pharma will pay an initial license fee of $1 million and will be responsible for all development costs. Eli Lilly is also eligible to get extra payments on the basis of achievement of specified development and commercialization milestones as well as tiered-royalties on net sales at percentage rates up to the low double digits. These milestones include $4 million for pre-NDA approval milestones and up to $95 million for future regulatory approval and sales milestones.

Vanda Pharma stated that in 2012, it plans to initiate and complete the technology transfer activities and further examine the clinical and commercial profile of VLY-686. This strategic evaluation will further inform potential indications for an early development clinical program, noted the company.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
International Business Machines Corp. (IBM) Monday predicted that Cyber Monday online sales would grow by more than 18 percent compared to 2014. Driven by a surge in mobile shopping, consumers indicate that Samsung, Sony and LG TVs as well as Apple Watch and Beats by Dre are at the top of their shopping... As the Black Friday din settles down, it is time to look back at how various players and products fared and Adobe has offered some insight into just that. Mobiles and smartphones sold like hot cakes, according to online shopping data released by Adobe. After nearly a 2-year hiatus following its announcement that it is testing unmanned drones, Amazon finally offered a glimpse into the prototype and its functioning. It remains to be see if the company can work around regulatory hurdles to make it a reality.
comments powered by Disqus
Follow RTT