Zealand Pharma achieves milestone in Sanofi collaboration on LixiLan
Denmark’s Zealand Pharma (Nasdaq OMX Copenhagen: ZEAL) says it has achieved a milestone under its collaboration with French drug major Sanofi (Euronext: SAN) covering Lyxumia (lixisenatide) and any combination product including lixisenatide.
The milestone relates to the approval of the first Phase III study protocol for LixiLan, the once-daily single injection Lantus (basal insulin)/Lyxumia, by a Health Authority, triggering a $15 million payment to Zealand. Shares of Zealand were up 13.4% to 72.00 euros by midday today (January 16).
Lixisenatide is a once-daily prandial GLP-1 receptor agonist invented by Zealand for the treatment of type 2 diabetes. Worldwide development and commercial rights to the product are exclusively licensed to Sanofi.
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