The companies declined to disclose financial details of the deal. However it is rumored, that the initial payment to Peptor was of the order of $15 million.
Peptor is reportedly about to pass another milestone in its Aventis agreement, worth slightly less than its first payment. The payment will be made if and when the US Food and Drug Administration (FDA) approves Peptor's development concept. Peptor measures blood levels of LC Peptide, found in insulin produced naturally by the body. The measurement can determine the amount of insulin the body is manufacturing. Measurements are taken of the glucose attached to hemoglobin, which influences the metabolism of sugars.
Israeli biopharmaceutical company Peptor is in advanced negotiations for a development agreement with a leading international cancer therapy company, Peptor president and CEO Yoram Karmon, was quoted in the Israeli media that Peptor was on the verge of signing an agreement, with a partner. "a top-ranking international company". He added that the deal would probably be smaller than its recent agreement with Aventis (NYSE: AVE) but it "shows we've succeeded in choosing our projects". Under the Aventis deal, Peptor accepted responsibility for scaling up production of the product and was scheduled to receive milestone payments as the drug advances through development.