Denovo Biopharma In-licenses Second Drug Candidate from Lilly

Denovo Biopharma, a San Diego company with a lab in Hangzhou, obtained global rights to a late-stage neuroscience drug from Eli Lilly. The drug is Pomaglumetad Methionil (mGlu2/3 receptor agonist), a proposed treatment for schizophrenia. Although the drug failed to meet its endpoints in a Phase III trial, subsets of the enrolled patients had very successful outcomes. Denovo will use its platform to identify genetic biomarkers of these subsets and develop a companion diagnostic, both for the trial and eventual patient use. More details.... Stock Symbol: (NYSE: LLY) Share this with colleagues: // //