Launch Of Serenics Through Lilly Deal
A new company, Serenics, has been launched as a result of a deal struckby Competitive Technologies and Eli Lilly. CTT has signed a license and technology transfer deal with Lilly that will enable the new firm Serenics to develop products based on a unique family of orally-active, non-peptide vasopressin receptor antagonists and oxytocin receptor antagonists invented by Lilly.
The deal also provides for an alliance between Serenics and Lilly for the development, regulatory approval, manufacture and marketing or distribution of certain successfully-developed products. Financial details of the agreement were not disclosed.
A president to head up Serenics is now being sought, commented CTT.
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