Sumitomo Dainippon gains Japan and other Asian rights to imeglimin

30 October 2017

Japan’s Sumitomo Dainippon Pharma (TYO: 4506) has entered into a strategic collaboration with French diabetes-focused biotech firm Poxel (Euronext: POXEL) for the development and commercialization of imeglimin, an investigational therapeutic agent for type 2 diabetes, in Japan, China, South Korea, Taiwan and nine other Southeast Asian countries.

News of the deal sent the shares of Poxel rocketing more than 40% to 7.56 euros in morning trading today, while the Japanese drugmaker dipped 0.8%.

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