By Samantha McGrail
Eli Lilly and Company recently entered into a pharma acquisition deal with biotechnology company, Protomer Technologies, to advance treatment for type 1 diabetes (TD1).
Protomer Technologies is engineering next-generation protein therapeutics. The company’s peptide and protein-engineering platform is used to identify and synthesize molecules that can sense glucose or other endogenous modulators of protein activity.
The biology-based platform allows for the development of therapeutic peptides and proteins with activity that can be controlled using small molecules.
“Glucose-sensing insulin is the next frontier and has the potential to revolutionize the treatment and quality of life of people with diabetes by dramatically improving both therapeutic efficacy and safety of insulin therapy,” vice president of diabetes research and clinical investigation at Eli Lilly and Company, Ruth Gimeno said in the announcement.
“Protomer’s glucose-sensing insulin program, based on its proprietary molecular engineering of protein sensors (MEPS) platform, is showing significant promise and Lilly is excited to enhance our diabetes pipeline with the company’s innovative technology,” Gimeno continued.
Protomer Technologies has used its platform to advance a portfolio of therapeutic candidates, including glucose-responsive insulins that can sense sugar levels in the blood and activate as needed.
The potential value of the acquisition deal is over $1 billion. Previously, Eli Lilly and Company gained 14 per cent ownership of Promoter Technologies through an equity investment alongside the JDFR T1D Fund.
Eli Lilly and Company is also acquiring the rest of Protomer Technologies stock beyond its initial investment.
“We are excited to join Lilly, a leader in diabetes therapies, and advance our science with their support to better serve the needs of patients,” said CEO and founder of Protomer Technologies, Alborz Mahdavi.
“We have been supported by JDRF since our inception and working closely with one of the leading organizations in type 1 diabetes research has been invaluable for us. The Protomer team is excited to embark on the next chapter of our work at Lilly as we focus our efforts on advancing glucose-responsive insulins and accelerating the development of these next-generation protein therapeutics,” Mahdavi continued.
And managing director at the JDRF T1D Fund, Katie Ellias, said that this collaboration is a “significant milestone in the T1D community” and a pivotal step to bring Promoter Technologies technology one step closer to the clinic. Most importantly, the partnership will accelerate next-generation life-changing therapies for people living with T1D.
