Biocon has announced that it has entered into an option agreement with Bristol-Myers Squibb Company for Biocon’s IN-105, a prandial oral insulin product candidate.
Under the terms of the agreement, Bristol-Myers Squibb will have the right to exercise an option to obtain an exclusive worldwide licence to its oral insulin drug programme.
Biocon will conduct clinical studies to further characterise IN-105’s clinical profile according to a pre-agreed development programme up to the completion of Phase II.
If Bristol-Myers Squibb exercises its option to license IN-105 following the successful completion of the Phase II trial, it will assume full responsibility for the development programme, including all development and commercialisation activities outside India.