Biocon and Bristol-Myers Squibb made the joint announcement today, and the agreement hinges on Biocon’s successful completion of the Phase II trial.
Biocon Limited is an Indian biopharmaceutical company, which provides a wide range of services to the pharmaceutical industry, ranging from multiple product lines to research services and generic pharmaceutical ingredients.
Biocon Limited is a leader in emerging diabetology research, and the newest diabetic drug in its arsenal, IN-105, is at the forefront of today’s comprehensive diabetic curative strategies.
IN-105 is set to begin its Phase II trials, and if successfully completed, will invoke the Brystol-Myers Squibb option for commercial development and direct marketing in all areas of the World except India, which the rights to, Biocon has retained.
IN-105 is an orally administered insulin, which may have significant benefits over intravenously injected insulin, as it may stimulate the patients commitment to the taking of insulin. Most people have needle anxiety, and any oral derivative of a previously injection only curative drug will have extreme legs in the marketplace, as well as allowing doctors to prescribe a better suited medication for the diabetic condition.
Today’ statement as released by Biocon, reads in part. Biocon announces that it has entered into an option agreement with Bristol-Myers Squibb for Biocon’s IN-105, an oral insulin drug candidate.
Ms. Kiran Mazumdar-Shaw, MD and Chairman of Biocon, said: “This agreement is one huge step closer to realizing the dream of bringing oral insulin to market. We are excited to extend the excellent relationship we already enjoy with Bristol-Myers Squibb, and look forward to working closely with them to make this a reality.”
Diabetes is a chronic disease that affects about 350 million people worldwide. The long-term complications of diabetes include cardiovascular disease, peripheral vascular disease, kidney failure, and other chronic diseases, and it is estimated that the direct and indirect costs of diabetes to the overall healthcare system amount to over $650 billion worldwide.
Bristol-Myers Squibb declined to comment.
Article by Jim Donahue