NEW YORK, April 13 (GenomeWeb News) - Perlegen Sciences has licensed a prospective diabetes drug from Mitsubishi Pharma to commercialize it for specific patient groups, the companies said yesterday.
Perlegen plans to use its genotyping technology "to improve upon the demonstrated efficacy and safety profile of MCC-555, which has been tested in over 1,000 patients" with the aim to select patients most likely to benefit, according to a company statement.
Under the agreement, Perlegen has exclusive rights, except for in Asia, to develop and commercialize the compound. In exchange, Mitsubishi will receive an upfront payment, and is eligible for milestone payments. Mitsubishi will exclusively license, for sales of the drug in Asia, genetic markers that Perlegen intends to find. Both companies will receive royalties from drug sales in the territory of the other party.