Nov 21 Intarcia Therapeutics Inc said on Monday
it submitted a marketing application for its matchstick-size
implantable drug-delivery pump for diabetes to the U.S. Food and
Privately held Intarcia, which clinched a royalty-based
financing deal last year valuing the company at about $5.5
billion, is developing ITCA 650 in partnership with French
pharmaceutical company Servier.
Intarcia's ITCA 650, which is designed as a once or
twice-yearly therapy for type 2 diabetes, has been proven to be
more effective than Merck & Co Inc's blockbuster
diabetes drug, Januvia, in controlling blood sugar levels.
ITCA 650 could pose a challenge to large drugmakers such as
Novo Nordisk A/S, AstraZeneca Plc, Sanofi SA
and Eli Lilly & Co that sell similar so-called
GLP-1 drugs as daily or weekly injections.
GLP-1 drugs are analogues that stimulate insulin production.
The company said, if approved, ITCA 650 would be the first
and only injection-free GLP-1 therapy.
Intarcia said last year that it had plenty of funds for a
potential launch of the device around mid-2017.
(Reporting by Divya Grover; Editing by Martina D'Couto)