ADOCIA announces that Eli Lilly and Company (“Lilly”) filed a complaint against Adocia in the United States District Court of the Southern District of Indiana on October 9th, 2018.
Lyon, France, October 11th, 2018 – 6:00 pm CET -- Adocia (Euronext Paris: FR0011184241 – ADOC) the biopharmaceutical company focused on the treatment of diabetes and other metabolic diseases with innovative formulations of approved proteins, announces that Eli Lilly and Company (“Lilly”) filed a complaint against Adocia in the United States District Court of the Southern District of Indiana on October 9th, 2018. Lilly’s complaint seeks a declaratory judgment that “the designations of inventorship currently appearing on [Lilly’s] United States Patent Nos. 9,901,623 and 9,993,555 are complete and correct, as required by the patent laws of the United States.” US Patent No. 9,901,623 is entitled “Rapid-acting insulin compositions” and was issued February 27, 2018. US Patent No 9,993,555 is entitled “Rapid-acting insulin compositions” and was issued June 12, 2018. The complaint has not yet been served to Adocia and no schedule for the case has been set. Lilly contends in its complaint that it filed the action because Adocia has asserted that Lilly’s patents reflect Adocia’s inventive contributions.
“Adocia welcomes the opportunity to address, in the appropriate forum, its concerns about the alleged inventorship of Lilly’s two cited patents. Indeed, we have previously asked Lilly to appropriately recognize Adocia’s contributions.” commented Gérard Soula, Chairman and CEO of Adocia. “We intend to protect Adocia’s rights, including our claims asserted in the separate, ongoing arbitration procedure which we initiated against Lilly.”
Of note, Adocia and Lilly are already engaged in separate arbitration proceedings. In August 2018, the arbitration Tribunal found in favor of Adocia on the first phase of this arbitration, and Adocia was awarded USD 11.6 million in damages; earlier this week, the Tribunal also awarded Adocia interest on that amount, accruing from March 30, 2017. Adocia’s additional claims for misappropriation and misuse by Lilly of Adocia’s confidential information and discoveries, as well as Lilly’s counterclaims, remain pending and are set for hearing in December 2018, with a decision anticipated in 2019.
Adocia will report further as appropriate.
About ADOCIA
Adocia is a clinical-stage biotechnology company that specializes in the development of innovative formulations of already-approved therapeutic proteins and peptides for the treatment of diabetes and other metabolic diseases. In the diabetes field, Adocia’s portfolio of injectable treatments is among the largest and most differentiated of the industry, featuring six clinical-stage products. Additionally, Adocia recently expanded its portfolio to include the development of treatments of obesity and short bowel syndrome.
The proprietary BioChaperone® technological platform is designed to enhance the effectiveness and/or safety of therapeutic proteins while making them easier for patients to use. Adocia customizes BioChaperone to each protein for a given application. Adocia’s clinical pipeline includes five novel insulin formulations for the treatment of diabetes: two ultra-rapid formulations of insulin analog lispro (BioChaperone® Lispro U100 and U200), a combination of basal insulin glargine and rapid-acting insulin lispro (BioChaperone® Combo), a rapid-acting formulation of human insulin (HinsBet® U100), and a prandial combination of human insulin with amylin analog pramlintide (BioChaperone® Pramlintide Insulin). It also includes an aqueous formulation of human glucagon (BioChaperone® Glucagon) for the treatment of hypoglycemia. Adocia preclinical pipeline includes combinations of insulin glargine with GLP-1 receptor agonists (BioChaperone® Glargine GLP-1) for the treatment of diabetes, a ready-to-use combination of glucagon and a GLP-1 receptor agonist BioChaperone® Glucagon GLP1) for the treatment of obesity and a ready-to-use aqueous formulation of teduglutide (BioChaperone® Teduglutide) for the treatment of short bowel syndrome.
Adocia and Chinese insulin leader Tonghua Dongbao recently entered into a strategic alliance. In April 2018, Adocia granted Tonghua Dongbao licenses to develop and commercialize BioChaperone Lispro and BioChaperone Combo in China and other Asian and Middle-Eastern territories. The agreements included a total of 50 million dollars upfront and up to 85 million dollars development milestones, plus double-digit royalties on sales. In June 2018, Tonghua Dongbao agreed to manufacture and supply active pharmaceutical ingredients insulin lispro and insulin glargine to Adocia globally, excluding China, to support Adocia’s portfolio development in these territories.
Adocia aims to deliver “Innovative medicine for everyone, everywhere.”
To learn more about Adocia, please visit us at www.adocia.com
For more information please contact:
Adocia
Gérard Soula
Chairman and CEO
contactinvestisseurs@adocia.
Ph. : +33 4 72 610 610
Adocia Press Relations Europe
MC Services AG
Raimund Gabriel
adocia@mc-services.eu
Ph. : +49 89 210 228 0
Adocia Investor Relations USA
The Ruth Group
Tram Bui
tbui@theruthgroup.com
Ph.: +1 646 536 7035
Disclaimer
This press release contains certain forward-looking statements concerning Adocia and its business. Such forward-looking statements are based on assumptions that Adocia considers to be reasonable. However, there can be no assurance that the estimates contained in such forward-looking statements will be verified, which estimates are subject to numerous risks including the risks set forth in the “Risk Factors” section of the Reference Document filed with the French Autorité des marchés financiers on April 19, 2018 (a copy of which is available onwww.adocia.com) and to the development of economic conditions, financial markets and the markets in which Adocia operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Adocia or not currently considered material by Adocia. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Adocia to be materially different from such forward-looking statements.
This press release and the information contained herein do not constitute an offer to sell or the solicitation of an offer to buy Adocia shares in any jurisdiction.
