Anthera buys pancreatic therapy from Eli Lilly

Anthera (NASDAQ:ANTH) has bought Sollpura, described by the company as "a soluble, stable and non-porcine enzyme product" meant to treat patients with exocrine pancreatic insufficiency (i.e. low digestive enzyme levels), from Eli Lilly.

Anthera plans to "sublicense all rights, obligations, and intellectual property for the development and commercialization of Sollpura" to a fully-owned subsidiary to be called Alkira Therapeutics. Alkira, in turn, will obtain funding to "advance Sollpura into a phase 3 pivotal registration trial as agreed with the [FDA] in 2013."

Alkira is expected to make milestone payments following product approval and "certain annual sales achievements," and also pay royalties after certain sales thresholds are hit.

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