BOTHELL – Nastech Pharmaceutical Co. and a California-based drug maker hope to develop a nasal spray to treat diabetes through a new collaboration that could generate more than $89 million for Nastech.
Amylin Pharmaceuticals Inc., based in San Diego, will pay Nastech milestone payments as the drug is developed. If it is approved and reaches the market, the Bothell company also would receive royalties.
Even without royalties, payments could reach $89 million, the companies said, though they released no other financial details.
Amylin and Nastech will try to develop a spray form of exenatide, the active ingredient in Byetta. That injectable drug for type 2 diabetes is made jointly by Amylin and Eli Lilly &Co.
The drug originally was developed from a compound in the saliva of the Gila monster, a lizard found in the southwestern United States and in Mexico.
Nastech will focus on drug delivery and manufacturing details, while Amylin will be responsible for shepherding the medication through the clinical trial and regulatory process.
“Amylin is a leader in developing innovative therapeutics and we are very excited to work with them,” Steven Quay, Nastech’s president and chief executive officer, said in a written statement. Amylin representatives couldn’t be reached for comment.
This isn’t Nastech’s first research into developing an alternative to injected drugs for diabetes. The company indicated late last year that it is developing an insulin nasal spray for diabetes patients. The company also presented new research last week related to the development of another potential nasal spray for diabetes.
Reporter Eric Fetters: 425-339-3453 or fetters@heraldnet.com.
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