SOUTH SAN FRANCISCO, Calif., April 29 /PRNewswire-FirstCall/ -- Tercica, Inc. announced today that it has signed an agreement with Fujisawa Pharmaceutical Co., Ltd. (Fujisawa), under which Tercica has been granted a non-exclusive license to patent rights pertaining to the use of recombinant human Insulin-Like Growth Factor-I (rhIGF-I) for the treatment certain forms of extreme insulin resistance, including Type A insulin resistant diabetes.
Patients with extreme insulin resistance have abnormalities which cause insulin to be ineffective in regulating blood glucose levels. Current therapy, which consists of maximum doses of oral hypoglycemic agents and insulin, is ineffective. These patients suffer from the severe complications of diabetes, including vision loss, stroke, heart disease, kidney failure and a shortened life expectancy.
Under the license agreement, Tercica has obtained Fujisawa's rights in extreme insulin resistance to develop and commercialize rhIGF-1 on a non-exclusive basis worldwide, except in Japan. Financial terms were not disclosed.
"This agreement enables Tercica to commence our plans to develop rhIGF-1 in diabetes, starting with the patient group with the greatest medical need for new therapies," said John A. Scarlett, MD, President and Chief Executive Officer of Tercica.
George Bright, MD, Vice President of Clinical Affairs of Tercica added, "We look forward to working together with investigators in the diabetes community in order to explore a clinical program for patients with extreme insulin resistance, a disease with debilitating consequences."
Insulin-like Growth Factor-1, a natural hormone, is a simple 70 amino acid protein that must be present in tissues for normal growth and metabolism in humans. Tercica manufactures and is developing recombinant human IGF-1 as a treatment for diabetes based on the knowledge that IGF-1 and insulin receptors have similar intracellular signaling pathways and overlapping metabolic effects.
Tercica is a biopharmaceutical company focused on the development and commercialization of rhIGF-1 for the treatment of short stature, diabetes and other endocrine system disorders. Tercica's initial target indications include Insulin-like Growth Factor-1 Deficiency (IGFD), including Severe Pediatric IGFD, Pediatric IGFD and Adult IGFD. In addition, the company is pursuing clinical studies of rhIGF-1 as a treatment for Diabetes, including Severe Insulin Resistance and Type A diabetes.
Safe Harbor Statement
This press release contains forward-looking statements regarding Tercica's development and commercialization of treatments for certain forms of extreme insulin resistance and other types of diabetes, short stature and other endocrine system disorders. The forward-looking statements are subject to risks and uncertainties that could cause actual events to differ materially from those projected, including those risks and uncertainties listed in the Form S-1, as amended, relating to Tercica's initial public offering, which was declared effective by the SEC on March 16, 2004.
Any statements by persons outside Tercica speculating on the subject matter of this press release, or any other aspects of the company's business, will not be based on internal company information and should be assessed accordingly by investors.