Clinical stage drug development company CoLucid Pharmaceuticals has struck a deal to get its migraine headache treatment into Asian markets.
South Korean company Ildong Pharmaceuticals will bear responsibility for development and regulatory approvals in South Korea and southeast Asia for CoLucid’s compound Lasmiditan. The company will also participate in registration trials as part of the drug’s global development plan. After the drug is approved, Ildong will supply and distribute Lasmiditan in the Asian territories.
Durham-based CoLucid will receive upfront and milestone payments from the deal though no specific financial details of those payments were disclosed.
CoLucid does not yet have any Food and Drug Administration approved drugs. Lasmiditan, licensed from Eli Lilly (NYSE:LLY), is CoLucid’s lead drug candidate. The compound is being developed as a way to offer migraine relief without the cardiovascular side effects that can come with triptans, the class of drugs currently used to treat migraines.
Lasmiditan has advanced through phase IIb studies and the company is planning phase III clinical trials. CoLucid said the phase III trials will address patient groups under served by currently available migraine therapies: patients at risk for cardiovascular disease or those who have cardiovascular disease; and patients who have not had an adequate response to triptans.