B-MS and Flamel Technologies in licensing agreement for Basulin

Published: 1-Sep-2003

Bristol-Myers Squibb (B-MS) and French biopharmaceutical company Flamel Technologies, of Lyon, have entered into a US$165m licensing and commercialisation agreement to develop and market Basulin, the first controlled release, unmodified human insulin to be developed as a once-daily injection for patients with type 1 or type 2 diabetes.


Bristol-Myers Squibb (B-MS) and French biopharmaceutical company Flamel Technologies, of Lyon, have entered into a US$165m licensing and commercialisation agreement to develop and market Basulin, the first controlled release, unmodified human insulin to be developed as a once-daily injection for patients with type 1 or type 2 diabetes.

Now entering Phase II clinical development, Basulin is delivered via Medusa, a unique nanoparticulate technology that was developed by Flamel.

Under the terms of the agreement, B-MS will lead, and assume the cost of, the future development and manufacturing efforts for Basulin and will have worldwide exclusive rights to the product. Flamel will continue to provide additional support for certain activities as the product moves forward in development. B-MS will pay Flamel a $20m up-front payment and $145m in additional milestone payments; it will also pay double-digit royalties to Flamel on sales.

'Flamel Technologies has chosen to partner with B-MS based on the company's leadership in diabetes disease treatment,' said Dr Gerard Soula, Flamel's president and ceo. 'I look forward to combining our partner's development and commercialisation expertise with Flamel's innovation experience to develop Basulin, our flagship Medusa project.'

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