Zealand Pharma has struck a partnership deal with US company Eli Lilly concerning research and development of peptide drugs with a focus on type 2 diabetes and obesity based on a novel therapeutic approach developed by Lilly.

“The structure and potential of this collaboration is an embodiment of our strategy to apply a partner-focused approach in our continued efforts to push the boundaries for designing novel peptide therapies and expand their use to benefit patients and build long term value in our business,” says CEO David Solomon in a press release.

With the signing of the collaboration deal the Danish biotech company can add yet another global player to its list of partners, which already includes companies like Sanofi, Boehringer Ingelheim, and AbbVie.

”Lilly scientists have discovered a novel peptide hormone-based approach which has the potential to lower blood glucose as well as body weight,” says Ruth Gimeno, Ph.D., chief scientific officer for diabetes drug discovery at Lilly, in the release.

The companies will share in the funding, risk and reward of the program. Future expansion of the collaboration to additional drug targets and disease areas is possible, the companies reveal.

The partnership agreement has no impact on Zealand Pharma’s financial outlook for 2013.

- translated by Martin Havtorn Petersen

Want to receive the latest news from Medwatch straight in your e-mail inbox? Sign up for our free english newsletter below.