Merck & Co. Inc., a global pharmaceutical manufacturer, says it will acquire SmartCells Inc., a biotechnology company in Beverly, Massachusetts developing a glucose responsive insulin formulation for the treatment of diabetes. The SmartCells process was first developed at Massachusetts Institute of Technology by its president, Todd Zion.
SmartCells says its technology makes it possible to automatically regulate the release of a drug based on the plasma concentration of a designated molecular indicator. In the case of insulin, the insulin therapeutic is available only in the presence of a specific glucose concentration range. While the approach is still in development, it has the potential to produce better control of insulin that may result in a lower risk of hypoglycemia (low blood sugar) compared with standard insulin protocols and improve control over both fasting and post-meal glucose levels.
Under the terms of the agreement, Merck will acquire all outstanding stock of SmartCells, Inc. In return SmartCells shareholders will receive an upfront cash payment and be eligible to receive clinical development, regulatory milestone, and sales payments for products resulting from the transaction.
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