Privately held Intarcia, which clinched a royalty-based financing
deal last year valuing the company at about $5.5 billion, is
developing ITCA 650 in partnership with French pharmaceutical
Intarcia's ITCA 650, which is designed as a once or twice-yearly
therapy for type 2 diabetes, has been proven to be more effective
than Merck & Co Inc's blockbuster diabetes drug, Januvia, in
controlling blood sugar levels.
ITCA 650 could pose a challenge to large drugmakers such as Novo
Nordisk A/S, AstraZeneca Plc, Sanofi SA and Eli Lilly & Co that sell
similar so-called GLP-1 drugs as daily or weekly injections.
GLP-1 drugs are analogues that stimulate insulin production.
The company said, if approved, ITCA 650 would be the first and only
injection-free GLP-1 therapy.
Intarcia said last year that it had plenty of funds for a potential
launch of the device around mid-2017.
[to top of second column]
(Reporting by Divya Grover; Editing by Martina D'Couto)
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