Drugmaker Eli Lilly and Co. (LLY) and privately-held Marcadia Biotech, Inc. announced Monday that the companies have signed a development and license deal for Marcadia’s short-acting glucagon program for the treatment of severe hypoglycemia.The short-acting glucagon program includes MAR531, a glucagon analog in preclinical development at Marcadia, as well as related backup compounds. The program covers glucagon analogs that may provide greater convenience and ease-of-use than the current recombinant glucagon.
As per the agreement terms, Carmel, Indiana-based Marcadia will continue to oversee development of the compound through regulatory approval in the US, while Lilly will be responsible for obtaining regulatory approval in countries outside the US and for commercialization worldwide. The financial terms were undisclosed.
Hypoglycemia, or low blood sugar, occurs when blood glucose drops below normal levels. Glucagon is a hormone secreted by the pancreas that raises blood glucose levels.
Both Eli Lilly and Marcadia plan to develop the short-acting glucagon analog to be supplied and stored in a single-use auto-injection “pen” device. Marcadia stated that MAR531 and related backup compounds were discovered through its sponsored research agreement with Indiana University, Bloomington.
LLY is currently trading on the New York Stock Exchange at $33.90 per share, down $0.04 or 0.12%, on a volume of 1.26 million shares. In the past 52-week period, the stock traded in a range of $32.02 to $38.00.
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