Anji Pharma wants to bring a Type 2 diabetes and chronic kidney disease treatment along with a constipation drug to market, and now the biotech has $70 million to bankroll clinical trials.
CAMBRIDGE, Mass. & SHANGHAI--(BUSINESS WIRE)-- Anji Pharmaceuticals, Inc. (“Anji” or “the Company”) announced today it has licensed pradigastat, an inhibitor of acyl coA: diacylglycerol acyl transferase (DGAT1), from Novartis (NYSE: NVS). Pradigastat is a well-characterized molecule which has progressed to Phase 3 clinical testing. Anji has secured rights to pursue new indications for pradigastat, with an initial focus on regulatory approval in China. In exchange, Anji has agreed to make a one-time upfront payment of US $2.0M to Novartis, with additional cash payments and downstream royalties due upon reaching regulatory and sales milestones.