Lilly nabs rights for osteoporosis patch
Eli Lilly announced Tuesday it has agreed to a licensing deal with Zosano Pharmaceuticals for an investigational microneedle patch system to treat severe osteoporosis. Lilly will pay $15 million up front, up to $300 million more upon achievement of regulatory milestones and $125 million in sales milestone payments, making the deal worth up to $440 million. Lilly will be responsible for commercializing the product, while Zosano will fund and develop the product—including clinical, regulatory and manufacturing activities. The patch has completed a Phase-II trial and will soon begin Phase-III trials.