Metabolex inks deal with J&J for diabetes treatment

HAYWARD, Calif. Metabolex has entered an agreement to discover and develop Type 2 diabetes drugs with a subsidiary of Johnson & Johnson, Metabolex said Tuesday.

Under the agreement, Ortho-McNeil-Janssen Pharmaceuticals will receive an exclusive worldwide license to develop, manufacture and commercialize several Metabolex compounds currently in preclinical development. Metabolex will receive an upfront payment and be eligible for potential milestones of up to $330 million, as well as royalties.

“We look forward to this partnership and to maximizing the significant potential of Metabolex’s programs to bring first-in-class therapies to patients with Type 2 diabetes and other disorders,” Metabolex CEO Harold Van Wart said.