* Eligible to get up to $225 mln in milestone payments
* Shares up 8 pct pre-market
June 17 (Reuters) - Neurocrine Biosciences Inc (NBIX.O) said it signed a deal with privately held German drugmaker Boehringer Ingelheim to develop candidates for the treatment of Type II diabetes and other indications.
The companies will develop small molecule agonists that would activate GPR119, a G protein-coupled receptor located in the digestive system and pancreatic islet belt, thus stimulating increased insulin production. Under the terms of the deal, Neurocrine will get a $10 million upfront payment and research funding to support discovery efforts. The company is also eligible to receive up to $225 million in milestone payments, the company said.
Boehringer Ingelheim is responsible for the global development and commercialization of potential GPR119 agonist products, Neurocrine said.
On Wednesday, Neurocrine said it signed a collaboration deal with Abbott Laboratories Inc (ABT.N) to develop and commercialize Neurocrine's experimental drug to treat endometriosis. [ID:nSGE65F0DK]
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