ATLANTA, Ga.- Altea Therapeutics announced today that it has entered into an agreement with Eli Lilly and Company and Amylin Pharmaceuticals, Inc. to develop and commercialize a novel daily transdermal patch delivering sustained levels of exenatide utilizing the Altea Therapeutics proprietary PassPort® Transdermal Delivery System.

Altea Therapeutics, supported by Lilly and Amylin, recently completed an initial Phase 1 clinical study of the exenatide transdermal patch in people with type 2 diabetes. The exenatide transdermal patch is an investigational product designed to be applied once per day to provide sustained levels of exenatide for people with type 2 diabetes. The potential benefits for patients from the exenatide transdermal patch include eliminating injections, which may increase therapy compliance.
Under the terms of the agreement, Altea Therapeutics has granted Lilly and Amylin exclusive worldwide rights to develop and commercialize transdermal exenatide utilizing the Altea Therapeutics proprietary PassPort® Transdermal Delivery System. Lilly and Amylin will fund all product development, manufacturing, and commercialization activities for the product. In addition, Altea Therapeutics will receive from Lilly and Amylin an upfront license payment and may receive clinical, regulatory and sales milestones of up to $46 million, and royalties on future product sales. As part of the agreement, an equity investment in Altea Therapeutics is included.
“This agreement continues the validation of the Altea Therapeutics transdermal patch technology for medicines that currently can be administered only by needle injection or infusion, including watersoluble proteins, carbohydrates, and small molecules” said Dr. Eric Tomlinson, PhD, DSc, President
and CEO of Altea Therapeutics. “We believe the diabetes care experience of Lilly and Amylin, combined with the transdermal expertise of Altea Therapeutics creates an excellent partnership for the potential development of the world’s first transdermal GLP-1 receptor agonist, transdermal exenatide.”

“At Lilly, we are fully committed to improving outcomes for patients with diabetes,” commented David Vondle, Lilly’s global brand development leader for exenatide. ” Broader application of the exenatide molecule is a valuable part of that mission. We are excited to be partnering with Altea Therapeutics and Amylin on this innovative program.”
“The agreement to develop a transdermal patch for exenatide is aimed at responding more broadly to the needs of the patients we serve by offering more treatment choices, such as the Altea Therapeutics non-injectable delivery option, for this important medicine,” said Orville G. Kolterman, M.D., senior vice president of research and development at Amylin Pharmaceuticals.

http://www.alteatherapeutics.com/mediacoverage/PR%20Exenatide%201%20Apr%202009.pdf