Vitae earns $14M milestone payment from Boehringer Ingelheim

Vitae PharmaceuticalsJun 29 2010

Vitae Pharmaceuticals, Inc., an integrated discovery and development company, today announced that it has earned a $14 million clinical milestone payment from Boehringer Ingelheim, one of the world's 20 leading pharmaceutical companies. Vitae's 11beta-hydroxysteroid dehydrogenase (HSD)-1 is targeted for the treatment of diabetes and metabolic syndrome-related diseases in a strategic alliance with Boehringer Ingelheim. The payment recognizes Boehringer Ingelheim's recent advancement of a small molecule inhibitor of 11beta-HSD-1 into Phase I clinical trials.

“This program addresses several features of the metabolic syndrome, a combination of disorders, including abdominal obesity, high blood pressure and insulin resistance or glucose intolerance, all of which contribute to an increased risk of coronary heart disease, stroke and Type 2 diabetes.”

"Inhibition of 11beta-HSD-1 represents an important new mechanism of action for treating diabetic patients," commented Dr. Richard Gregg, Vitae's Chief Scientific Officer. "This program addresses several features of the metabolic syndrome, a combination of disorders, including abdominal obesity, high blood pressure and insulin resistance or glucose intolerance, all of which contribute to an increased risk of coronary heart disease, stroke and Type 2 diabetes." Dr. Gregg continued, "Boehringer Ingelheim and Vitae have worked well together on this program. We are very pleased with the quality of the lead candidate and look forward to further building its profile as it advances in the clinic."

Vitae and Boehringer Ingelheim initiated their strategic 11beta-HSD-1 alliance in October of 2007. Under the terms of that agreement, the companies combined their respective research programs, working together to identify and advance novel 11beta-HSD-1 inhibitors. Vitae has now achieved three performance milestones totaling $26 million of a potential $300 million under the collaboration. Vitae is also eligible to receive royalty payments from Boehringer Ingelheim on sales of products commercialized under the collaboration.