Alkem Licenses Drug for Diabetic Neuropathy in India

New Delhi, Oct 10 (PTI) Alkem Laboratories Ltd on Thursday said it has entered into a licensing agreement with US-based Sonnet BioTherapeutics Holdings, Inc to develop, manufacture and commercialise a new drug candidate 'SON-080' for treatment of diabetic peripheral neuropathy in India.

Under the licensing agreement, Alkem will carry out the clinical development of 'SON-080' in India with support from Sonnet and enable global and India regulatory filings, the company said in a regulatory filing.

Alkem has exclusive rights to develop, manufacture and commercialise the drug in India, it added.

"We believe 'SON-080' is a unique asset that has demonstrated promising disease modifying potential for diabetic peripheral neuropathy with translational studies showing nerve regeneration," Alkem President and Chief Medical Officer Akhilesh Sharma said.

He further said, "there is a large prevalence of diabetic peripheral neuropathy in India, which we believe underscores the need for the drug development in this territory and potential value."

Sonnet Founder and CEO Pankaj Mohan said the company is looking forward to advancing 'SON-080' into phase 2 clinical through the partnership with Alkem.

"We believe that Alkem is the ideal partner with significant experience and expertise," he added.

'SON-080' has undergone many years of development and the previous clinical trials have generated safety data from over 200 patients, the company said.