Pharmacopeia has earned a $1 million milestone payment as part of its collaboration with Biovitrum. The payment was triggered by Pharmacopeia’s delivery of an advanced lead compound to one of Biovitrum’s programs in diabetes.

“Biovitrum has been an excellent partner for Pharmacopeia. They are committed to developing novel treatments for metabolic diseases, such as diabetes and obesity as well as for other indications like inflammation, blood and eye diseases and we see great promise in both the target and the lead series we have produced during the collaboration in diabetes,” said Les Browne, Ph.D., president and chief executive officer of Pharmacopeia. “We continue to be successful in our collaborative relationships, and Biovitrum is no exception. Successful collaborations of this type are valuable today to Pharmacopeia as they provide us with the financial resources to advance our own internal programs.”

Under the terms of the companies’ collaboration, which is focused on multiple targets, Pharmacopeia is entitled to receive further milestone payments based on preclinical and clinical development progress. Also, Pharmacopeia will be entitled to receive royalties on sales of any products that are marketed based on compounds derived from the collaboration. Biovitrum is responsible for the development and commercialization of all collaboration products after programs are handed over by Pharmacopeia.