Depomed licenses Glumetza data and Acuform technology

Janssen Pharmaceutica has licensed worldwide rights to Depomed 's Acuform gastric retentive drug delivery technology to be used for the non-exclusive development of a fixed dose combination formulation of canagliflozin, a Sodium Glucose Transport 2 (SGLT2) inhibitor, and extended-release metformin. Janssen has also been granted a right of reference to the Glumetza NDA and associated data for use in developing the combination product.

Under the terms of the service agreement, Depomed will formulate the fixed dose combination product. Janssen will have the commercialisation rights for the combination product.

Depomed will receive a US$5 million upfront license fee, plus reimbursements for its formulation work on the project and an additional US$5 million license fee following completion of Depomed's formulation work. Depomed is eligible for an additional milestone plus a royalty on potential future net sales.

"We are excited that we have been able to close our third licensing deal with a Big Pharma partner within the last two years. We believe that an expansion in use of our technology in the diabetes field will also further improve adoption of our proprietary, single-agent, extended-release metformin product Glumetza among patients and physicians," said Carl A Pelzel, president and chief executive officer of Depomed.

"We will continue to monetise the value of our technology and advance our strategic goal to become a specialty pharmaceutical company."