Eli Lilly and Company has announced the acquisition of Alnara Pharmaceuticals, a privately-held company that specialises in the development of protein therapeutics to treat metabolic diseases.
The transaction, worth $180m up front, was first announced in early July 2010.
The deal grants Lilly access to liprotamase a non-porcine pancreatic enzyme replacement therapy and Alnara's lead product in development.
Liprotamase is currently under review by the US Food and Drug Administration for the treatment of exocrine pancreatic insufficiency, which can be caused by cystic fibrosis, chronic pancreatitis and pancreatectomy, among other conditions.
On top of the up front payment, Alnara stockholders will also be eligible for up to $200m in additional payments contingent upon potential future regulatory and commercial milestones.