INDIANAPOLIS, Sept. 23 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY)
and Dura Pharmaceuticals, Inc. (Nasdaq: DURA) announced today that they are
collaborating to develop pulmonary delivery technology for insulin products
under a previously executed agreement. The product under development is based
on Dura's proprietary Spiros(R) pulmonary drug delivery technology for
proteins and peptides.
Under the terms of the agreement, Dura received an up-front payment and
will receive further funding for research and milestone payments of
undisclosed amounts. In addition, Dura will receive royalties and
manufacturing payments on products that reach the marketplace. Lilly has
received global commercialization rights for the resulting inhaled insulin
products.
In Dura's Spiros(R) pulmonary delivery system, the drug is formulated as a
powder for inhalation. The powder formulation is delivered through the
Spiros(R) inhaler, a hand-held, battery-powered multidose system that is
designed to deliver consistent doses of medicine to the lung independent of
the patient's inspiratory effort. Upon reaching the lung, a drug, such as
insulin, then enters the bloodstream. Delivery of medication through the lung
is designed to offer patients an alternative to administering medication by
injection.
"We believe the combination of our expertise in developing products to
treat diabetes coupled with Dura's expertise in aerosol delivery technology
can create a product that will greatly benefit patients," said James A.
Harper, president of endocrine products for Lilly. "This collaboration with
Dura will continue to build a relationship that has already benefited both
companies."
"The opportunity to partner with Lilly, a global leader in diabetes care,
to develop inhaled insulin further expands the commercial opportunity for
Dura's Spiros(R) platform technology," said David Kabakoff, Ph.D., president
of Dura Technologies. "We are pleased that Lilly has recognized the potential
of the Spiros(R) system for systemic delivery of proteins and peptides."
Both Dura and Lilly are dedicating resources to the collaboration. Lilly is
leading the clinical trial efforts, is supplying insulin to the programs and
will be responsible for global marketing efforts. Dura is formulating the
insulin inhalation powder, is further developing pulmonary delivery
technologies for the product and is responsible for manufacturing of the final
product.
Today, worldwide costs for treating diabetes and its complications are
estimated to exceed $200 billion annually. It is also estimated that, over
the next decade, the number of people with this disease will more than double.
Lilly has been a leader in diabetes care for more than 70 years. The company
continues to aggressively pursue the goal of being a complete diabetes care
company and intends to provide innovative products to treat all types and
stages of diabetes.
Dura Pharmaceuticals, Inc. is a San Diego-based developer and marketer of
prescription pharmaceutical products for the treatment of allergies, asthma
and related respiratory conditions. Dura has focused on the U.S. respiratory
market because of its size and growth opportunities
through two major strategies: (1) acquiring respiratory prescription
pharmaceuticals and/or businesses developing or marketing such pharmaceuticals
targeted at high-prescribing respiratory physicians and (2) developing
Spiros(R), a pulmonary drug delivery system.
Lilly is a global research-based pharmaceutical corporation headquartered
in Indianapolis, Ind., that is dedicated to creating and delivering innovative
pharmaceutical-based health care solutions which enable people to live longer,
healthier and more active lives.
This release may contain forward-looking statements that reflect
management's current views of future events and operations. The information
is based on management's current expectations but actual results may differ
materially due to various factors, including those mentioned in this release,
risks and uncertainties, including market conditions, competitive pricing, the
timely development of the Spiros(R) system, the successful outcome of clinical
trials, the timely receipt of regulatory approvals, Dura's manufacturing
experience, successful scale-up to commercial levels, dependency upon third
parties and their successful development efforts and those outlined in Lilly
and Dura filings with the SEC.
SOURCE Dura Pharmaceuticals, Inc.
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CONTACT:
Cam L. Garner, Chairman and Chief Executive
Officer of Dura Pharmaceuticals, Inc., 619-457-2553
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