LONDON – Poxel SA has landed an all-embracing deal in Asia for Imeglimin with new partner Sumitomo Dainippon Pharma Co. Ltd. taking on the costs of conducting phase III development and commercializing the first-in-class, oral, type II diabetes treatment in Japan, China and 11 other countries. Under the terms of the agreement Poxel receives an upfront payment of $42 million, plus future development and sales-based milestones of $257 million. In addition, the Lyon, France-based company will be eligible for double-digit royalties on net sales.