Sanofi-Aventis buys global rights to CureDM's Pancreate for up to $355 million

French drug major Sanofi-Aventis has entered into a licensing deal with USA-based CureDM on a novel human peptide, Pancreate, which could restore a patients' ability to produce insulin and other pancreatic hormones in both type 1 and type 2 diabetes.

Under the terms of the accord, CureDM will receive an upfront payment, as well as development, regulatory and commercial milestone payments, all of which could reach a total of $ 335 million. In addition, CureDM is eligible to receive tiered royalties on worldwide product sales. In return, Sanofi-Aventis is granted an exclusive worldwide license to develop, manufacture and commercialize Pancreate and related compounds.

Pancreate is a bioactive peptide sequence of a naturally-occurring human protein that has been shown in preclinical studies to stimulate the growth of new insulin producing islets in the pancreas, resulting in restoration of normal metabolic function and glucose control in the blood. The commencement of Phase I studies is planned for later this year.