Boehringer Ingelheim licenses drug technology from Depomed

Boehringer Ingelheim has licensed new drug technology from fellow pharmaceutical company Depomed to aid in its future product development.

The firm has been granted worldwide rights to Depomed's Acuform gastric retentive drug delivery technology, which will be used in the development of new fixed-dose combination metformin treatments for conditions such as type 2 diabetes.

In addition, Boehringer Ingelheim has been given right of reference to data from the new drug application of the metformin hydrochloride tablet treatment Glumetza in the US, information that will support future regulatory submissions.

In exchange for this, Boehringer Ingelheim is paying Depomed $12.5 million (7.78 million pounds), of which $2.5 million is dependent on certain milestones.

Thadd Vargas, Depomed's senior vice-president for business development, said: "This exciting new partnership adds an important new aspect to our unique metformin franchise strategy."

Earlier this week, Boehringer Ingelheim announced a new agreement that will see it provide contract manufacturing services to MorphoSys.