Idenix enters into development, commercialization pact with Novartis
Biopharmaceutical company Idenix Pharmaceuticals Inc has entered into an termination and revised relationship agreement pact with Novartis Pharma AG that restructures the development and commercialization collaboration that was established in May 2003, the news reports said.
As per the agreement, Novartis’ option right to license Idenix’s current and future development stage drug candidates in any therapeutic area has concluded.
Novartis will be payed a royalty based on the worldwide product sales of Idenix’s future hepatitis C virus drugs by Idenix. The royalty percentage will vary based on the commercialized Idenix HCV drug.
It also has a non-exclusive option to conduct clinical trials evaluating a combination of any of Idenix’s and Novartis’ HCV drug candidates.
Novartis’ ability to initiate combination of drug trial expires on seven year anniversary of executing the termination and revised relationship pact.
Idenix will no longer get royalty or milestone payments from Novartis based on the worldwide product sales of Tyzeka/Sebivo for treating hepatitis B.
Novartis will retain the rights of designating one member of the Idenix board of directors, reduced from 2 members, so long as it continues to own at least 15% of Idenix’s equity ownership.
Ron Renaud, Idenix’s President and CEO, said, “This agreement affords Idenix increased flexibility to optimize the value of or pipeline for the benefit of Idenix, our shareholders and ultimately HCV patients.” Mr. Renaud also said, “By regaining the worldwide rights to develop, commercialize and license all our drug candidates, we believe Idenix will be well-positioned to develop pan- genotypic all-oral direct-acting antiviral combination treatments with potential collaborators.”
Idenix Pharmaceuticals is engaged in discovery and development of drugs to treat human viral and other infectious diseases. Its current focus is to treat hepatitis C virus infections. Novartis is a multinational pharmaceutical company based in Switzerland. It manufactures drugs like clozapine, diclofenac, carbamazepine, valsartan and imatinib mesylate.
Dexcom: changing the lives of people with type 1 diabetes
It is estimated that 9.3% of adults around the world are living with type 1 diabetes, which amounts to a total of 463 million people. A further 1.1 million children and adolescents under the age of 20 are living with the condition.
Unlike the more prevalent type 2 diabetes, where the body still produces insulin and symptoms develop slowly, people with type 1 diabetes need regular insulin injections or pumps, and must monitor their sugar levels frequently.
In recent years a number of remote glucose monitoring systems have become available that patients can use at home. These work with a sensor, usually placed under the skin, that measures glucose levels every few minutes. This information is then transmitted wirelessly to a device like a smartphone or tablet, which can then be shared with their clinician.
British actress Nina Wadia's son Aidan, 14, has type 1 diabetes, and has been managing his condition using Dexcom, a glucose monitoring system used by patients all over the world. Here Wadia explains how Dexcom has improved their lives.
As a parent of someone with type 1 diabetes, what is your day-to-day life like?
Being able to take a breath, think and pivot constantly without getting frustrated becomes an essential mindset because sometimes it feels like each day is determined to be different from the day before. Whatever worked yesterday is going to misfire today.
Which areas of yours and Aidan’s life are most impacted by diabetes?
The one thing that you have to fight hard to reclaim is spontaneity, especially when it comes to food and exercise. It’s only when this is taken do you realise how essential each one is. You can be flexible and there are no real limits, but only in the sense that a great athlete can be flexible without limits because they’ve trained super hard to be that way. So we’ve all had to become athletes when it comes to being spontaneous.
How has Dexcom helped you and Aidan?
Dexcom has brought future science fiction to real life today. The continuous glucose monitoring system is tiny, sits discreetly on his body and gives him a ten-day breather between sensor changes, so it's goodbye finger-pricking seven times daily.
Dexcom is totally active at a grass roots level and for Diabetes Awareness has pledged to donate £2,000 if #DexcomDiabetesStories and/or #DexcomWarriorStories is shared 200 times! I’ll be sharing more on social media and would love to hear how other families are winning their fights.
Maybe most importantly Dexcom is trying to introduce a reimbursement programme for type 1 diabetes patients which will give greater access to modern, life changing hi-tech. I want to spread the word on the importance of accessing it through this campaign.
If you compared your life today with how it was before Aidan was using Dexcom, what has changed?
It's always working, which lets him take his mind off diabetes for longer stretches. It also lets me get off his back. We both receive alerts so I no longer have to pester him by asking him what his number is, and especially importantly, I don’t have to wake him at night to prick his finger if I’m worried. Dexcom gave us back our sleep!