OSI PHARMACEUTICALS GRANTS LICENSE UNDER DIPEPTIDYL PEPTIDASE IV (DPIV) PATENTS

OSI Pharmaceuticals, Inc. announced today that its UK subsidiary focused on the discovery and development of diabetes and obesity therapeutics has granted a worldwide non-exclusive license under its DPIV patent portfolio to a major British pharmaceutical company. The portfolio covers the use of DPIV inhibitors for the treatment of type 2 diabetes and related indications. OSI will receive upfront, milestone and royalty payments. Additional financial terms were not disclosed.

Genetic Engineering News (http://www.genengnews.com/news/bnitem.aspx?name=1131855XSL_NEWSML_TO_NEWSML_WEB.xml)