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

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