Vtv Therapeutics (NASDAQ:VTVT) inks a license agreement with Huadong Medicine's Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. granting it exclusive rights to develop, manufacture and commercialize vTv's GLP-1R agonist program in China, Hong Kong and 12 other Asian countries (ex. Japan).
Vtv will conduct a Phase 2 clinical trial across sites in the U.S. and other regions in the Pacific Rim.
The deal includes the rights to TTP273, an oral small molecule GLP-1R agonist, that statistically significantly reduced HbA1c levels in type 2 diabetics in a mid-stage study.
Under the terms of the agreement, vTv will receive $8M upfront, up to $75M in milestones and royalties on net sales in the territories.
Shares are up 8% premarket but only on 200 shares.
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