Unigene Laboratories, Inc. (UGNE) Achieves Enrollment Target for Oral PTH Phase 2 in Osteoporotic Postmenopausal Women, Secures $4M Milestone Payment from GlaxoSmithKline
Unigene Laboratories, developers of one of the top portfolios in existence of peptide-based therapeutics, a portfolio engineered on the Company’s revolutionary Peptelligence™ platform, reported today that patient enrollment in Phase 2 of the oral parathyroid hormone (PTH) analog study targeting postmenopausal women with osteoporosis has been completed. The Company has thus completed the necessary requirements for the $4M milestone payment from collaborating partner GlaxoSmithKline (GSK), with whom UGNE is developing the oral formulation of a recombinantly produced PTH analog, as part of an extremely promising, exclusive global licensing agreement (signed, Dec. 10, 2010). This payment supplements the initial upfront $4M…