RepliCel Life Sciences Inc (TSXV:RP)
RepliCel is a regenerative medicine company developing autologous cell therapies that address diseases caused by a deficit of healthy cells required for normal healing and function.
Tasly Pharmaceutical Group Co. will obtain the exclusive development, production and commercialization rights of a new drug for diabetes treatment from US drug development giant Eli Lilly and Co. in China, including Hong Kong, Macau and Taiwan.
The company recently signed a licensing agreement with the US firm to make commercial development of a type 2 diabetes medicine (LY-2922470), said Tianjin-based firm in a statement yesterday.
Eli Lilly will license Tasly with related technology and patents for the drug, it said. However, it gave no further details regarding the financial aspects of the deal.
LY-2922470 is an oral medication for the treatment of type 2 diabetes, with a completely new chemical structure. The animal trials and Phase I clinical results of the drug showed excellent safety and tolerability, while the level of blood glucose reduction was dose-dependent, said the statement, adding the follow-up Phase II and Phase III clinical studies for the drug will be carried out in China.
The cooperation will leverage the respective research and development and market strength of both parties to help the new drug successfully pass clinical trials, obtain eligibility to make it available in China and quickly seize the world’s largest diabetes drugs market, the statement added.
Source: yicaiglobal.com
