Zealand set for a $20 million milestone payment from Sanofi following NDA for LixiLan

23 December 2015

Biotech firm Zealand Pharma (Nasdaq Copenhagen: ZEAL) on Wednesday said it is set to receive a $20 million milestone payment from the French drug major Sanofi (Euronext: SAN) following the submission of a New Drug Application for LixiLan to the US Food and Drug Administration (FDA).

LixiLan is an investigational single-injection, fixed-ratio combination of lixisenatide and insulin glargine for the treatment of Type 2 diabetes. Insulin glargine, marketed globally by Sanofi as Lantus (insulin glargine), is the world-wide most prescribed basal insulin product for the treatment of diabetes but will soon face generic competition.

Britt Meelby Jensen, chief executive of Zealand, said: “I am pleased to confirm that all the pipeline and business milestones we set out to achieve in 2015, have now been successfully met, and the $20 million milestone payment from Sanofi strengthens our financial position as we move into 2016. We will continue to focus on advancing our pipeline of novel proprietary medicines to accelerate value creation for patients and our shareholders, and we foresee another year with a strong activity level and substantial news flow.”

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK