Denovo Biopharma, a privately held biotechnology company based in San Diego, has exclusively licensed Pomaglumetad Methionil (mGlu2/3 receptor agonist), a late-stage neuroscience drug, from Eli Lilly. Denovo gains all rights to develop, manufacture and commercialize pomaglumetad globally, including transfer of all intellectual property and other rights, data and information. Lilly has an option to re-acquire pomaglumetad upon a successful clinical trial, for predetermined undisclosed financial terms.

Pomaglumetad was primarily developed and tested in schizophrenia, including in phase II and phase III clinical trials. Predefined sub-population analysis and post-hoc analysis across multiple studies identified a meaningful subset of patients who showed significantly improved outcomes, although pomaglumetad did not meet the primary endpoint in the intent-to-treat population in phase III studies. Denovo will use its proprietary platform to identify genetic biomarkers as a companion diagnostic to screen for appropriate patient subsets in future clinical trials and eventual commercialization.

"Denovo continues to acquire late-stage medicines to successfully develop with its integrated companion diagnostic and therapeutic development approach, including the acquisition of enzastaurin, a late-stage oncology therapeutic, in September 2014," said Michael F. Haller, Ph.D., Denovo Biopharma's chief operating officer.