TransTech and DiaKine obtain licenses from Novo Nordisk and University of Virginia, respectively.
TransTech Pharma obtained worldwide, exclusive licenses from Novo Nordisk. to its clinical glucokinase activator (GKA) program. Tests in a variety of mammalian species suggest that glucokinase activators can help people with diabetes control their glucose levels.
TransTech will obtain rights to all preclinical and clinical compounds in the GKA program. The deal is a result of Novo Nordisk’s recent decision to out-license its small molecule pipeline and focus on protein-based pharmaceuticals.
The drug candidates licensed by TransTech are novel, orally administered compounds discovered during a research collaboration with Novo Nordisk utilizing TransTech’s small molecule discovery engine, TTP Translational Technology.
TransTech will make an upfront payment to Novo Nordisk for the licensed rights and has also committed to additional payments as development milestones are reached, as well as royalties on commercial product sales.
Separately, DiaKine received a worldwide, exclusive license to the intellectual property and patent rights of the University of Virginia Patent Foundation’s (UVAPF) library of immune modulators for development in all fields.
DiaKine Therapeutics plans to develop drugs that when taken on a regular basis, will inhibit diseases such as diabetes. The new compounds were created by Jerry Nadler, M.D., and Timothy Macdonald, Ph.D., and their team at the University of Virginia.
UVAPF received a license fee in the form of cash and common stock in DiaKine. Additionally, it will obtain milestone payments upon the achievement of development goals and royalties on potential future sales of the product. DiaKine will assume responsibility for all costs related to the development of the new drugs as well as costs associated with maintaining the licensed patents.
