Intarcia Will Partner With Servier to Sell Diabetes Drug Pump in Potential $1B Deal
Boston-based Intarcia Therapeutics has signed a lucrative deal with French pharmaceutical company Servier to help sell its ITCA 650 implantable diabetes drug pump outside the U.S. and Japan. Under the agreement, Servier will pay Intarcia $171 million upfront, $230 million for three early-stage regulatory milestones, plus other milestone payments that could bring the total deal to $1 billion.
Intarcia will also receive a percentage of sales of the pump, and both companies will invest in a manufacturing site outside the U.S.
The ITCA 650 is a tiny, implantable pump that steadily releases the drug exenatide to keep a patient’s blood sugar levels in check. Currently, the drug is administered via twice-daily or weekly self-injections.
The pump is placed beneath the skin and delivers a full year of treatment. Implantation takes five minutes and can be done in a doctor’s office, according to Intarcia.
The device is currently being tested in four Phase 3 studies that are expected to wrap up in 2016. Once that happens, Intarcia will seek regulatory approval in the U.S. and Japan and Servier will seek approval in the EU and other markets, the devicemaker said.Intarcia CEO Kurt Graves says the company chose to partner with Servier because of its financial strength, diabetes expertise and track record in the EU and emerging markets. — Kellen Owings
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