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NGM Biopharmaceuticals And MedImmune, AstraZeneca PLC's Biologics Arm, Announces Agreement To Discover And Develop Therapies For Diabetes And Obesity

Monday, 17 Jun 2013 03:00am EDT 

NGM Biopharmaceuticals and MedImmune, Biologics Arm of AstraZeneca PLC announced that they have entered into an exclusive agreement to discover, develop and commercialize novel therapeutics from NGM's enteroendocrine cell (EEC) program for the treatment of type 2 diabetes and obesity. MedImmune and NGM will jointly advance first-in-class peptide and antibody drug candidates based on the discovered EEC hormones. MedImmune will have the option to license in these EEC targets, and will be responsible for the global development, manufacture and commercialization of compounds resulting from the collaboration. Under the terms of the agreement, MedImmune will make an upfront payment and provide NGM research funding over the course of the collaboration. If certain development, regulatory and commercial milestones are achieved, NGM will be entitled to receive various payments, as well as royalties on worldwide product sales.