Alkem, Sonnet ink pact for diabetic neuropathy

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

Under the pact, 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," Alkem president Akhilesh Sharma said.