Biovitrum hands projects over to iNovacia for development

Collaboration

Sweden’s Biovitrum has agreed to hand over two preclinical projects to fellow Swedish biotech iNovacia for development. The agreement sees a 70:30 split in favour of iNovacia of any future revenues from the projects. The terms allow iNovacia to add additional partners to further develop the projects.

The first programme, GPR-119, includes compounds that can restore insulin production and release animal models of Type II diabetes, while the second reduces levels of undesirable cholesterol and blood glucose levels in disease models of diabetes.

“We are pleased that our SCD-1 and GPR 119 projects have got a new home with iNovacia, a company we have worked with when developing the existing candidate drugs,”said Peter Edman, CSO at Biovitrum.