Merck & Co., Inc., and SmartCells, Inc., announced that they have entered into a definitive agreement under which Merck will acquire SmartCells, a private company developing a glucose responsive insulin formulation for the treatment of diabetes mellitus.
Nancy Thornberry, senior vice president and head, diabetes and obesity franchise, Merck Research Laboratories said, Maintaining control of blood glucose levels represents a daily challenge for people living with diabetes. Through the acquisition of SmartCells we have obtained innovative technology that may enable us to develop glucose-responsive insulins. If this investigational technology is ultimately approved for use with patients, it could provide an important new therapy for the treatment of diabetes. This holds the potential to significantly impact the treatment of this disease.
Todd C. Zion, Ph.D., president, co-founder and chief executive officer said, At SmartCells, we have made important progress in rapidly advancing from early concept towards clinical development. This acquisition positions our novel technology for success in the hands of a leading pharmaceutical company with proven expertise and exceptional resources to deliver breakthrough diabetes products to patients.