Innovent Biologics, Inc. announced that it has entered into a licensing agreement with Eli Lilly and Company for the development and potential commercialization of a new diabetes medicine, known as OXM3, in China.
OXM3, or oxyntomodulin analog, is a dual GLP-1 and glucagon receptor agonist that will enter mid-stage clinical trials.
“Diabetes is recognized as the world’s fastest-growing chronic condition,” said Michael Yu, founder, chief executive officer and chairman of Innovent in a statement.
“China has a greater number of diabetic patients than any other country in the world with around 114 million people suffering from the disease,” Yu added. “We are excited to license this molecule from Lilly, and we look forward to developing OXM3 as a potential innovative treatment that could address a significant unmet medical need in China.”
What is OXM3?
OXM3 is an analog of the naturally occurring onxyntomodulin peptide, a hormone derived from post-translational processing of preproglucagon in the gut.
Similar to the native peptide, OXM3 binds to and activates both the glucagon-like peptide 1 receptor (GLP-1R) and the glucagon receptor (GCGR).
OXM3 has been engineered to be a long-acting molecule, suitable for once-weekly injection.
In early-stage clinical trials, OXM3 has demonstrated the potential for potent weight loss and evidence of improved glycemic control as well as long time-action suitable for weekly administration.
OXM3 has the potential to be developed as an important therapy for diabetes, obesity and potentially nonalcoholic steatohepatitis (NASH).
- Innovent Biologics, Inc. (2019, August 22). Innovent Enters a Licensing Agreement with Lilly to Develop & Commercialize a Novel Diabetes Medicine in China. PR Newswire. Retrieved August 28, 2019, from https://www.prnewswire.com/news-releases/innovent-enters-a-licensing-agreement-with-lilly-to-develop–commercialize-a-novel-diabetes-medicine-in-china-300905146.html