- Eli Lilly (NYSE:LLY) acquires the global rights to an intranasal glucagon developed by privately-held Montreal-based Locemia Solutions. The product candidate, currently in Phase 3 development, is a potential needle-free rescue treatment for severe hypoglycemia in diabetic patients treated with insulin.
- It employs a proprietary glucagon nasal powder formulation that is delivered in an emergency situation via a single-use, ready-to-use device. The caregiver presses a small plunger on the bottom of the device to release the glucagon as a puff in the nose where it is absorbed in the nasal passages.
- Financial terms of the deal are not disclosed.