CAMBRIDGE, Mass., Oct. 24 (UPI) -- Servier said Tuesday it will pay Servier up to $75 million for worldwide rights to Alantos' DPP-IV inhibitor for treating type 2 diabetes.
Under the terms of the deal, Servier obtains exclusive global rights, except for the United States, to develop and commercialize the compound, known as ALS 2-0246, which is currently in phase 1 studies.
Alantos maintains all rights to ALS 2-0246 in the United States and will also get double-digit royalties from Servier.
"We are impressed with the quality of Alantos' DPP-IV program and look forward to jointly developing this molecule, which we believe has a superior profile in a very promising field," said Laurent Perret, Servier's president of research and development.
Servier and Alantos will work together on a worldwide development plan through the end of phase 2. Servier will fund all development through phase 2 and will then provide the funding for further development outside of the United States.
