Wired News – vTv Therapeutics Signs Licensing Agreement with Hangzhou Zhongmei Huadong Pharmaceutical for its GLP-1r Agonist Diabetes Program in China and Other Pacific Rim Territories
LONDON, UK / ACCESSWIRE / December 26, 2017 / Active-Investors.com has just released a free research report on vTv Therapeutics Inc. (NASDAQ: VTVT). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=VTVT as the Company's latest news hit the wire. On December 21, 2017, the clinical-stage biopharmaceutical Company that works towards the development of orally-administered, small molecule drug candidates to fulfill unmet medical needs, declared that it has entered into a licensing agreement with Hangzhou Zhongmei Huadong Pharmaceutical Co. Ltd ("Huadong Pharmaceutical"), a wholly-owned subsidiary of Huadong Medicine Co., Ltd for the rights to develop and commercialize vTv Therapeutics' GLP-1r agonist program (TTP273) in China and other Pacific Rim countries for the treatment of Type 2 Diabetes. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, vTv Therapeutics most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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About TTP273
TTP273 is an oral small molecule GLP-1r agonist. It activates GLP-1 receptors, which leads to the enhancement of insulin secretion and suppression of glucagon production and decreased food intake. At present, there are several injectable GLP-1 peptide therapies in the market, which have exhibited a significant reduction in glucose levels in addition to weight loss. However, their use is restricted due to the route of administration (i.e. injection), and by the high incidence of gastrointestinal side effects such as nausea and vomiting.
In its Phase-2 Trial, TTP273 met its primary endpoint and showed a statistically significant reduction in HbA1c for Type 2 Diabetes. The compound was well tolerated, with negligible incidences of nausea and vomiting across all fields of the study.
Increasing Incidence of Type 2 Diabetes
Type 2 Diabetes results from the body's inability to use insulin properly to control sugar in the bloodstream. Of the total diabetes patients globally, around 95% represent Type 2 diabetes.
Diabetes is the 7th major cause of death in the United States, which costs the healthcare system approximately $245 billion every year. As per the American Diabetes Association, there are over 29.1 million Americans, or 9.3% of the population, living with diabetes. In fact, the number of people with Type 2 Diabetes has quadrupled over the last 35 years, and currently there are about 160 million people with diabetes in the Western Pacific region.
Terms of the Agreement
Under the agreement, vTv Therapeutics has granted Huadong Pharmaceutical an exclusive license to develop, manufacture, and commercialize its GLP-1r agonist program in China, Hong Kong, Macau, Taiwan, Thailand, Vietnam, Indonesia, Malaysia, Philippines, Singapore, Myanmar, Cambodia, Laos, Brunei, South Korea, and Australia.
Besides, the agreement also authorizes vTv Therapeutics to run a Phase-2 Multi-Regional Clinical Trial (MRCT) including sites in the US and other regions in the Pacific Rim.
Total Compensation for the Transaction
The agreement entitles vTv Therapeutics to receive an upfront payment of $8 million, subject to satisfaction of certain customary conditions. Apart from that, the Company is eligible for milestone payments up to $75 million, related to development, regulatory, and commercial milestones. Moreover, vTv Therapeutics would also get royalty payments on sales of commercialized products in the territories.
Agreement Aims to Expand Options for Treatment of Type 2 Diabetes
This agreement between vTv Therapeutics and Huadong Pharmaceutical has the potential to expand treatment options for patients with Type 2 diabetes in Asian countries, where there is a medical need for an oral small molecule therapy that has the same benefits as the injectable diabetes GLP-1 peptides, without the commonly associated side effects.
Huadong Pharmaceutical is a comprehensive pharmaceutical Company that integrates traditional Chinese medicine, western medicine, biotech products API, and dosage forms. The Company is one of the leading domestic manufacturers in China and has developed a series of drugs in the field of diabetes treatment. Diabetes medications comprise its core product line and key area of its research and development (R&D) and innovative drug strategy. The agreement with vTv Therapeutics would accelerate its transformation from a generic drug Company to an innovative drug Company, and advance its mission of providing more and better products to a greater number of patients.
Stock Performance Snapshot
December 22, 2017 - At Friday's closing bell, vTv Therapeutics' stock declined 6.32%, ending the trading session at $4.15.
Volume traded for the day: 118.04 thousand shares, which was above the 3-month average volume of 50.24 thousand shares.
After last Friday's close, vTv Therapeutics' market cap was at $145.42 million.
The stock is part of the Healthcare sector, categorized under the Biotechnology industry.
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