Brief: Chugai Pharmaceutical and Lilly enter into license agreement for oral GLP-1 agonist, OWL833

Chugai Pharmaceutical

27/09/2018 03:02

Sept 27 (Reuters) - Chugai Pharmaceutical Co Ltd  4519.T  
    
    * Says Chugai Pharmaceutical and Eli Lilly and Company today
announced they have entered into a license agreement for OWL833,
Chugai’s oral non-peptidic GLP-1 receptor agonist 
    * OWL833 is a Phase 1-ready asset that is being studied for
the
treatment of type 2 diabetes
    * Under the terms of the agreement, Lilly will receive
worldwide
development and commercialization rights to OWL833 
    * Chugai will receive an upfront payment of $50 million and
is
eligible for milestone payments based on achievement of certain
predetermined milestones
    * If the molecule is successfully commercialized, Chugai
would
also be eligible for royalty payments

    
    Source text in Japanese:https://goo.gl/Rq47di
    Further company coverage: 4519.T 

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