Amylin Pharmaceuticals and Takeda Pharmaceutical have announced a new worldwide agreement to co-develop and commercialise obesity treatments.
The agreement will develop products and compounds from the companies' obesity research programmes, including Amylin's pramlintide/metreleptin and davalintide, which are in Phase II development.
Amylin will be responsible for executing the development of potential products through Phase II with the aim of achieving regulatory approval in the US.
Under this agreement Amylin will receive a one-time upfront payment of $75m from Takeda and will also be eligible to receive additional development, commercialisation and sales-based milestones that could eventually exceed $1bn.
Takeda president and chief executive officer Yasuchika Hasegawa said that Amylin and Takeda have extensive experience in the diabetes and metabolic disease area.
"This collaboration should allow us to more quickly bring promising new treatments to patients in need," Hasegawa said.
Takeda will lead development activities beyond Phase II in the US and all development activities outside the US. In most instances, Amylin will be responsible for 20% of development costs associated with obtaining approval for products and Takeda will be responsible for 80% of these costs in the US.
Takeda will be responsible for 100% of development costs associated with obtaining approval for products outside the US and will be responsible for 100% of commercialisation costs in the US and abroad.