Seeking Alpha

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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