Amgen and Biovitrum sign licence agreement for innovative treatment of Type 2 diabetes and other metabolic disorders.

(From Chemical Business NewsBase - Press Release)

Amgen Inc and Biovitrum AB have signed a multifaceted agreement under which Amgen receives exclusive rights to develop and commercialize Biovitrum's small molecule 11betaHSD1 enzyme inhibitors for the treatment of metabolic diseases and certain other medical disorders. The most advanced compound included in the agreement is BVT.3498, currently in Phase IIA clinical trials for Type 2 diabetes. Amgen will make an upfront payment of $86.5 M and will fund and conduct all further development and commercialisation activities in the licensed territory, which includes North and South America, the European Union, Australia and …