June 22, 2010 —
Metabolex, Inc. announced that they have entered into a global development and license agreement with
Ortho-McNeil-Janssen Pharmaceuticals, Inc. (OMJPI) to further develop and discover compounds for the treatment of type 2 diabetes and other disorders. Under the agreement, OMJPI will receive an exclusive worldwide license to develop, manufacture, and commercialize several Metabolex programs that are currently at the preclinical stage.
Under the terms of the agreement, Metabolex will receive an upfront payment and could be eligible to receive development, regulatory, and commercial milestones up to $330 million. Metabolex is also eligible to receive royalties on worldwide sales of marketed products...
Metabolex's Press Release -
