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news.Human Genome Sciences, a biopharmaceutical company, has announced that GlaxoSmithKline has initiated a Phase III clinical trial program to evaluate the efficacy, safety and tolerability of Syncria in the long-term treatment of type 2 diabetes mellitus. As a result, HGS will receive a $9 million milestone payment in the first quarter of 2009.
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Syncria is the fifth product to which Human Genome Sciences (HGS) has substantial financial rights that has entered late-stage clinical development.
Syncria was created by HGS using its albumin-fusion technology, and licensed to GlaxoSmithKline (GSK) in 2004. HGS is entitled to fees and milestone payments that could amount to as much as $183 million – including $24 million received to date – in addition to single-digit royalties on worldwide sales if Syncria is commercialized.
HGS has also reported progress towards the commercialization of its two key lead drugs, Albuferon for hepatitis C and LymphoStat-B for lupus. Albuferon successfully met its primary endpoint in the first of two Phase III trials in chronic hepatitis C; results of the second Albuferon Phase III trial are expected in March 2009. Approximately two Phase III clinical trials of LymphoStat-B are ongoing, with results expected in July and November 2009.
Thomas Watkins, president and CEO of HGS, said: We are delighted that GSK has advanced Syncria to Phase III development, and we look forward to the future progress of this important program. We are delighted that GSK has advanced Syncria to Phase III development, and we look forward to the future progress of this important program.