Vitae Pharmaceuticals Inc., Fort Washington, said today that it received a $14 million "milestone" payment from its partner in developing a treatment for diabetes and other metabolic diseases.
The payment from German pharmaceutical company Boehringer Ingelheim was prompted by the start of clinical trials on a new compound, called a small-molecule inhibitor. The companies agreed in 2007 to combine their research programs to develop inhibitors that block diseases.
Vitae has now received three payments from Boehringer, totaling $26 million, that recognize reaching specific performance targets on their work.