Sumitomo Dainippon Acquires Asian Rights to Poxel's Diabetes Drug in $300 Million Agreement

Japan's Sumitomo Dainippon Pharma announced a $300 million deal to develop Poxel's novel type 2 diabetes treatment in Japan, China and eleven other SE Asian countries. Poxel, a French biopharma, has completed Phase II testing of Imeglimin, a treatment for mitochondrial dysfunction, in the US , Europe and Japan . Sumitomo plans to begin a Phase III trial in Japan before the end of the year. Japan is expected to be the drug's second largest global market after the US . The two companies did not estimate China 's market size for Imeglimin. More details.... Stock Symbols: (TSE: 4506) (Euronext: POXEL) Share this with colleagues: // //