Vitae Pharmaceuticals and Boehringer Ingelheim to Develop and Commercialize Novel Treatments for Diabetes and Metabolic Diseases
News Oct 16, 2007
Boehringer Ingelheim and Vitae Pharmaceuticals, Inc. have established a major collaboration to develop and commercialize 11beta-HSD1 inhibitors. Compounds which inhibit 11beta-HSD1, an enzyme involved in cortisol production, may have utility in the treatment of diabetes and metabolic syndrome related diseases, including obesity, dyslipidemia and hypertension.
The companies will combine their respective 11beta-HSD1 programs and work together to identify and advance candidates for clinical development.
Under the terms of the collaboration agreement, Vitae will receive $36.5 million in upfront and near-term payments from Boehringer Ingelheim, comprising upfront cash, an equity investment in Vitae and research funding. In addition, Vitae will be eligible to receive up to $300 million milestone payments based on the achievement of development, regulatory and commercial program goals.
Further milestone payments may be achieved with additional compounds and/or additional approved indications. Vitae will receive royalty payments from Boehringer Ingelheim on all potential future product sales. Further financial details were not disclosed.
Boehringer Ingelheim will lead development and commercialization of products. In addition, Vitae will have the right to develop products independently for certain indications.
“Diabetes is a rapidly growing concern worldwide, and the need for safe and effective medicines that will help diabetic patients has never been greater. Vitae has discovered and rapidly advanced novel, highly potent 11beta-HSD1 inhibitors in multiple series over the past 20 months using its unique structure-based drug design technology CONTOUR™,” said Jeffrey Hatfield, CEO of Vitae.
“Our collaboration with Boehringer Ingelheim and its dynamic team of metabolic disease experts provides the resource and capabilities to drive this program into the clinic. Boehringer Ingelheim clearly shares our passion and excitement for this new therapeutic target, and we look forward to working together with the aim to deliver on the target’s full potential.”