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Anji Pharmaceuticals Acquires Developmental Rights for Metformin DR.

MANews-(C)2009-2019

30 May 2019 - Massachusetts, US-based Anji Pharmaceuticals, Inc. has acquired global development rights for a novel delayed-release formulation of metformin (Metformin DR), the company said.

Terms of the transaction were not disclosed.

Originally developed by Elcelyx Therapeutics, Metformin DR is an investigational product designed to target metformin delivery to the lower small intestine. Anji plans to initiate a pivotal Phase 3 study in patients with Chronic Kidney Disease (Stage 3b/4) later this year.

Metformin DR has been studied in nine previous clinical trials including an earlier Phase 2 study where various doses of Metformin DR were compared with placebo or Metformin Extended Release in subjects with type 2 diabetes.

In that study, Metformin DR exhibited statistically significant and sustained reductions in fasting plasma glucose over 12 weeks compared with placebo. Metformin DR was well tolerated at all doses tested.

Anji Pharmaceuticals has built a robust pipeline of clinical assets to treat cardiometabolic disorders. Anji has recruited a nimble and experienced clinical team to advance novel treatment paradigms, especially in the areas of gut and lipid metabolism.

Country: USA

Sector: Pharmaceuticals

Target: metformin (Metformin DR)

Buyer: Anji Pharmaceuticals

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:May 30, 2019
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