Hayward, Calif.-based Metabolex Inc. June 22 announced that it has entered into a global development and license agreement with Ortho-McNeil-Janssen Pharmaceuticals Inc. (OMJPI) to develop and discover compounds for the treatment of type 2 diabetes and other disorders.
Under the agreement, OMJPI will receive an exclusive worldwide license to develop, manufacture, and commercialize several Metabolex programs that currently are at the preclinical stage.
Metabolex said it will receive an upfront payment and could be eligible to receive development, regulatory, and commercial milestones of up to $330 million. The company also said it is eligible to receive royalties on worldwide sales ...
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