Deal includes nonexclusive rights to ViaDerm delivery system.
Eli Lilly inked an agreement with TransPharma Medical for exclusive, worldwide rights to its osteoporosis product. Nonexclusive access to the ViaDerm drug delivery system is part of the agreement as well.
TransPharma will receive a $35 million upfront, development and sales milestones, as well as royalties.
ViaDerm-hPTH (1-34) is currently in Phase II testing. The ViaDerm technology incorporates a handheld electronic control unit that creates microscopic passageways through the outer layer of the skin allowing for transdermal delivery of drugs from a patch.
TransPharma and Lilly will both fund and participate in Phase II development activities. Lilly will be responsible for further development activities and the potential commercialization of any transdermal PTH products.
The transaction is expected to become effective in June or July. At closing, Lilly expects a $0.02 per share charge to earnings for acquired in-process R&D.
