P&G to develop Nastech's nasal spray for treatment of osteoporosis

Procter & Gamble Pharmaceuticals plans to develop and commercialise the Parathyroid Hormone (PTH1-34) nasal spray, developed by Cincinnati-based therapeutics company Nastech Pharmaceutical Co for the treatment of osteoporosis. Clinical studies on PTH1-34 nasal spray are currently being completed in preparation for Phase III clinical development.

PTH1-34 is a fragment of the naturally occurring human parathyroid hormone and an important regulator of calcium and phosphorus metabolism. When given by daily injection, it has been shown to increase bone mineral density and reduce fractures in postmenopausal women.

Nastech has granted P&G worldwide rights to the spray in exchange for an upfront fee, milestone payments, and royalties. It will receive $10m upon execution of the deal and additional milestone payments of up to $22m in the first year. In total, payments could reach $577m over the life of the project.

The two companies will jointly develop the spray. P&G will assume responsibility for clinical and non-clinical studies and regulatory approval. Nastech will be responsible for the chemistry, manufacturing and controls sections of regulatory submissions. If a supply agreement is reached between the companies, Nastech will manufacture all the intranasal PTH1-34 and will supply clinical and commercial product to P&G.