Nastech Pharma and Amylin Pharmaceuticals have entered into an agreement to develop a nasal spray formulation of Byetta (exenatide). Preclinical studies of the formulation have been completed in preparation for Phase I studies. Under terms of the agreement, Nastech will receive milestone payments and royalties on product sales. If feasibility and the program moves forward, milestone payments could reach as much as $89 million in total, based on development, regulatory and commercialization ...