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Sumitomo Dainippon Acquires Asian Rights to Poxel's Diabetes Drug in $300 Million Agreement

publication date: Oct 30, 2017

Japan's Sumitomo Dainippon Pharma announced a $300 million deal to develop Poxel's novel type 2 diabetes treatment in Japan, China and eleven other SE Asian countries. Poxel, a French biopharma, has completed Phase II testing of Imeglimin, a treatment for mitochondrial dysfunction, in the US, Europe and Japan. Sumitomo plans to begin a Phase III trial in Japan before the end of the year. Japan is expected to be the drug's second largest global market after the US. The two companies did not estimate China's market size for Imeglimin. More details....

Stock Symbols: (TSE: 4506) (Euronext: POXEL)

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