IU chemist signs agreement with biotech company

The IU Research and Technology Corporation recently agreed to a licensing arrangement with a Carmel, Ind. biotechnology company to develop pharmaceuticals. \nMarcadia Biotech agreed to develop medical drugs created by the IU-Bloomington Chemistry Department Chair Richard DiMarchi.\nDiMarchi, a founding member of the biotechnology company, employs biochemical and proteomics techniques to more rapidly discover protein drugs that can treat metabolic diseases, according to the IU news release. \nThe premise of the agreement is for Marcadia to develop drugs DiMarchi made for widespread use. Among the new drugs is a quick and effective way of treating diabetic shock through the use of a drug administered by an injector pen. \nMarcadia CEO Fritz French said the company will be working with DiMarchi's research in areas specifically related to obesity and diabetes. \n"The compounds have been or will be discovered (by DiMarchi)," French said. "And then we take the compounds and develop them into products."\nMarcadia will sponsor research DiMarchi does in the aforementioned areas in exchange for patent rights to the products of that work. Research and Technology Corporation CEO Mark Long said he felt it was important for the agreement to include the possibility of further development so the door could stay open for future work.\nDiMarchi said the whole process, including the research, the company's formation and the agreements, took place over the course of the last year. DiMarchi said he was cautiously optimistic about his most recent drug making it to the market, but he was nonetheless excited. \n"It is premature to assume that the current inventions will become registered drugs, but I remain very optimistic, as it would fill an unmet medical need for a significant number of patients with diabetes," DiMarchi said in an e-mail. \nFrench said DiMarchi's expertise in the field of diabetic medicine made him the central player in the whole enterprise.\n"In the area we're working in ... he's one of the best in the world," French said. "He's brilliant, a great guy. He's got incredible strategic skills."\nFrench said DiMarchi's involvement in the entire project was crucial to its success, and his work will be what drives the project forward. \n"If it weren't for him, I don't think there would be the technology," French said. "We expect him to be the key scientific driver for additional inventions."\nLong said he believed the agreements could have an effect that reaches beyond DiMarchi's laboratory. \n"I think that the formation of a strong company dedicated to a part of the life sciences market like diabetes shows that IU is progressive in the life sciences, has a lot of depth and research in the life sciences, and we can expect more companies to come out of this (partnership)," Long said. "I think it's a big win for the life sciences and also a big win for Indiana University"