Phenomix, a San Diego-based drug developer, reports that it has partnered with New York-based pharmaceutical firm Forest Laboratories (NYSE:[[ticker:FRX]]) to jointly develop and commercialize Phenomix’ lead Type 2 diabetes drug dutogliptin. The deal—which comes on the heels of Phenomix nixing plans for an $86.25 million initial public offering this week—includes up to $340 million in payments from Forest to Phenomix, including an initial fee of $75 million.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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