3rd Jun 2015 10:34
LONDON (Alliance News) - Ardelyx Inc Wednesday said it has agreed a deal to regain the rights to its portfolio of NHE3 inhibitors, including its lead product candidate tenapanor, from AstraZeneca PLC for an upfront payment of USD15 million along with future contingent payments.
Ardelyx will pay an additional USD10 million in research and development costs and for the acceleration of the transfer of the programme back to Ardelyx. AstraZeneca is obligated to manufacture trial materials for a phase III clinical programme, and Ardelyx has agreed to buy this material for up to USD10 million.
It will also pay royalties equal to 10% of net sales of tenapanor by Ardelyx or a licensee, and 20% of non-royalty payments it receives from a new partner if decides to licence the rights to tenapanor, with all amounts not to exceed USD90 million.
Ardelyx partnered with AstraZeneca in October 2012 to develop and commercialise the portfolio.
Ardelyx now plans to accelerate the clinical development path for tenapanor in constipation-predominant irritable bowel syndrome by beginning a phase III clinical programme in the fourth quarter of this year. It will also begin a phase IIb clinical trial in the fourth quarter of this year to evaluate the optimal dosing regiment for tenapanor for the treatment of hyperphosphatemia in dialysis patients.
Shares in AstraZeneca are trading down 0.1% at 4,352.50 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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