(CercleFinance.com) – Adocia announced on Monday the launch of a phase III trial on its ultra-rapid insulin, a project carried out in partnership with the Tonghua Dongbao group, China’s leading insulin producer.
A first patient has now been dosed under this large program, which is expected to include a total of approximately 1,300 patients with type 1 and 2 diabetes across two studies conducted in 100 clinical centers across China.
This development step will trigger the payment of five million dollars by Tonghua Dongbao to Adocia, in accordance with the license agreement concluded in 2018.
Additional payments of up to $30 million are conditional upon reaching future development milestones through product registration.
Developed by Adocia, the BioChaperone Lispro solution combines Adocia’s proprietary BioChaperone technology with market-leading rapid-acting insulin, Humalog from Eli Lilly.
Listed on the Paris Stock Exchange, Adocia shares rose 5.5% on Monday morning following these announcements.