As French biotech Poxel marks the first market approval of its oral type 2 diabetes medication in Japan, eyes turn to the future of this drug and its rivals in Europe and the US.
The fortunes of the Lyon-based Poxel have been boosted by the first-ever regulatory approval of its oral type 2 diabetes medication imeglimin hydrochloride, which is marketed as Twymeeg in Japan. Elsewhere, however, the drug’s future remains less clear.
The approval of imeglimin was based on three phase III trials, where the drug helped patients to control their blood glucose. The nod triggered a €13.3M milestone payment from Poxel’s Japanese partner company Sumitomo Dainippon Pharma, in a €213M plus deal that will include sales-based payments and escalating double-digit royalties following the drug’s expected launch in October.
The good news comes after the company took a bruising late last year when its US and European partner Roivant pulled out of a licensing and development deal for the drug following a strategic review. Rights subsequently reverted to Poxel in January and,
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