OSI grants license for dipeptidyl peptidase IV inhibitors

By Angela McDaniels

Seattle, Dec. 22 - OSI Pharmaceuticals Inc. said (OSI) Prosidion, its U.K. subsidiary, has granted global, non-exclusive license under its dipeptidyl peptidase IV patent portfolio to a major British pharmaceutical company.

The agreement covers issued patents and pending patent applications corresponding to U.S. Patent 6,303,661, U.S. Patent 6,890,898 and WO 01/72290 for the use of dipeptidyl peptidase IV inhibitors as a treatment of type 2 diabetes and related indications.

OSI will receive upfront, milestone and royalty payments. Additional financial terms were not disclosed.

"This is the sixth license to our patent estate we have now granted and we expect to grant additional non-exclusive licenses in the future," (OSI) Prosidion president Anker Lundemose said in a company news release.

OSI said it acquired the dipeptidyl peptidase IV technology platform - which includes PSN9301, a compound in phase 2 development, and a portfolio of dipeptidyl peptidase IV medical use patents - from Probiodrug AG of Germany in July 2004.

OSI is a pharmaceutical company based in Melville, N.Y., that develops drugs for the treatment of cancer, eye diseases and diabetes.

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