Alkem Labs signs licensing agreement with Sonnet BioTherapeutics

Alkem Laboratories said that it has entered into a licensing agreement with US-based Sonnet BioTherapeutics Holdings, to develop, manufacture and commercialise the drug candidate 'SON-080' for the treatment of diabetic peripheral neuropathy in India.

SON-080 is Sonnets proprietary version of atexakin alfa. It has shown encouraging data in phase 1b clinical trial. The drug candidate was demonstrated to be well-tolerated and the pain and quality of life survey results suggested a potential for rapid improvement of peripheral neuropathy symptoms and post-dosing durability, compared to placebo controls.

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

According to company, SON-080 has undergone many years of development and the previous clinical trials have generated safety data from over 200 patients. SON-080 has demonstrated compelling preclinical efficacy data in both diabetic peripheral neuropathy and chemotherapy induced neuropathy, including the ability to prevent the development of neuropathy and reverse established neuropathy when assessed by nerve conduction, histological integrity and sensorimotor function measurements.

Dr. Akhilesh Sharma, president & chief medical officer of Alkem said, We are pleased to partner with Sonnet for this programme. 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. 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.

Pankaj Mohan, founder & chief executive officer of Sonnet, said, We are excited to partner with Alkem and look forward to advancing SON-080 into phase 2 clinical development. We believe that Alkem is the ideal partner with significant experience and expertise.

Alkem Laboratories is engaged in pharmaceutical business with global operations. The company is engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.

The company reported 90.13% jump in consolidated net profit to Rs 545.16 crore on 2.16% rise in revenue from operations to Rs 3,031.82 crore in Q1 FY25 over Q1 FY24.

Shares of Alkem Laboratories slipped 3.17% to currently trade at Rs 6,090.55 on the BSE.

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