Nastech Join Hands With Amylin to Spray Away Diabetes
Nastech Pharmaceutical Company Inc. (NASDAQ:NSTK) announced today an agreement with Amylin Pharmaceuticals, Inc. to develop a nasal spray formulation of exenatide, a treatment for type 2 diabetes. Preclinical studies of the formulation have been completed in preparation for initiating studies to determine feasibility in human subjects.
Nastech would receive milestone payments of up to $89 million and royalties on product sales if development were successful and the program moved forward.
Source: Reuters
