Nastech, Amylin ink exenatide nasal spray development deal
NEW YORK -- Nastech Pharmaceutical(Nasdaq NSTK)Co Monday reached an agreement to partner with Amylin Pharmaceuticals (Nasdaq AMLN) on the development of a nasal spray formulation of exenatide. The deal calls for Nastech to receive milestone payments and royalties on product sales, and Nastech said that if feasibility is successful and the program moves forward, its milestone payments could reach as much as $89 million. Further financial terms weren't disclosed. Nastech is providing its proprietary nasal delivery technology to the partnership, and Amylin has overall responsibility for the development program.
NEW YORK -- Nastech Pharmaceutical(Nasdaq NSTK)Co Monday reached an agreement to partner with Amylin Pharmaceuticals (Nasdaq AMLN) on the development of a nasal spray formulation of exenatide. The deal calls for Nastech to receive milestone payments and royalties on product sales, and Nastech said that if feasibility is successful and the program moves forward, its milestone payments could reach as much as $89 million. Further financial terms weren't disclosed. Nastech is providing its proprietary nasal delivery technology to the partnership, and Amylin has overall responsibility for the development program.
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