Samumed And United Therapeutics enter Agreement For Ph I IPF Drug

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Samumed LLC has entered an exclusive license agreement with United Therapeutics Corporation for North American rights to Samumed’s SM04646, being developed for the treatment of idiopathic pulmonary fibrosis (IPF). Deal terms include $10 million up-front, plus up to $340 million in developmental milestones and up to low double-digit royalties.

“We are excited to partner with United Therapeutics because of its culture of integrity, level of commitment, and expertise in pulmonology and drug-device combinations. We look forward to delivering what could be a first-in-class, disease-modifying treatment option for IPF patients,” commented Osman Kibar, Ph.D., Chief Executive Officer of Samumed.

SM04646, a Wnt pathway inhibitor, is currently undergoing a phase 1 clinical trial. Under the terms of the agreement, United Therapeutics’ subsidiary, Lung Biotechnology PBC, will conduct and fund all further development, regulatory and commercialization activities in the U.S. and Canada. Samumed retains development and commercialization rights for all markets outside of North America.

“I’ve been impressed with Samumed’s exhaustive work on the pleiotropic Wnt pathway from the time I met Dr. Kibar at this year’s Cura Foundation conference on regenerative medicine, held at the Vatican,” said Martine Rothblatt, Ph.D., Chairman and Chief Executive Officer of Lung Biotechnology PBC. “Our months of due diligence have energized our belief in SM04646’s fibrosis-modulating properties, and hence unique potential for addressing IPF.”

 

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News Source: United Therapeutics Website

Image Source: http://massrealestatelawblog.com/2011/08/22/court-upholds-oral-handshake-deal-in-land-swap/