Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

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

RELATED NEWS
Trade VNDA now with 
4/16/2012 7:08 AM ET

Vanda Pharmaceuticals Inc. (VNDA: Quote) said it has acquired an exclusive world-wide license from Eli Lilly and Co. (LLY: Quote) 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.

Click here to receive FREE breaking news email alerts for VANDA PHARMACEUTICALS and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
First-time claims for U.S. unemployment benefits rose by more than expected in the week ended April 19th, according to a report released by the Labor Department on Thursday, with initial jobless claims climbing further off their recent lows. The report said initial jobless claims rose to 329,000, an increase of 24,000 from the previous week's revised figure of 305,000. After giving back some ground in the previous session, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 40 points. European Central Bank President Mario Draghi said on Thursday that any worsening of the euro area inflation outlook may prompt the bank to adopt a broad-based asset buying scheme. "Unlike the other contingencies, the objective here would not be to defend the current stance, but rather to increase meaningfully the degree of monetary accommodation," Draghi said in a speech in Amsterdam.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.