Daiichi Sankyo, NGM to develop diabetes drugs
SOUTH SAN FRANCISCO, Calif. — Daiichi Sankyo and NGM Biopharmaceuticals said they signed a research and licensing agreement to develop treatments for Type 1 and Type 2 diabetes. The drugs would work by reviving beta cells, the decline of which contributes to the disease.
Under the deal, NGM will find molecules for which Daiichi Sankyo will conduct preclinical and clinical studies, as well as manufacturing and commercialization. NGM will receive an unspecified upfront payment and potential milestone payments and royalties, while Daiichi Sankyo will have an exclusive worldwide license to develop and commercialize drugs that result from the deal.
"We are delighted to enter into this partnership with Daiichi Sankyo, a company that shares our commitment to developing innovative pharmaceutical products for the treatment of metabolic diseases and with whom members of our management team have enjoyed a productive relationship in the past," NGM president and chief scientific officer Jin-Long Chen said.