Date: 2012-07-03
Type of information: Licensing agreement
Compound: elobixibat
Company: Ferring Pharmaceuticals (Switzerland) Albireo (Sweden)
Therapeutic area: Digestive diseases - Inflammatory diseases
Type agreement: licensing
development
commercialisation
Action mechanism: Elobixibat is a first-in-class compound with a novel physiological mechanism of action. It acts locally in the gut with minimal systemic exposure and modulates the enterohepatic circulation of bile acids by a partial inhibition of the Ileal Bile Acid Transporter (IBAT). This increases colonic fluid secretion and motility. Phase II clinical trials with elobixibat in patients with CIC conducted in USA and Europe have demonstrated clinically meaningful, statistically significant and dose-dependent improvement on key constipation and IBS-C symptoms such as bowel movement frequency, straining, stool consistency and bloating.
Disease: chronic idiopathic constipation (CIC), irritable bowel syndrome with constipation (IBS-C)
Details: Ferring Pharmaceuticals and Albireo have signed a license agreement under which Ferring has rights to develop and commercialise elobixibat, a first-in-class compound for chronic idiopathic constipation (CIC) and irritable bowel syndrome with constipation (IBS-C). The agreement gives Ferring rights to market the product globally with the exception of Japan and a small number of Asian markets. In consideration of the rights, Ferring will pay Albireo a significant upfront licensing fee, milestones and tiered double-digit royalties. Ferring will also be responsible for development costs in its territory.
The agreement is one of the biggest investments made by Ferring for licensing rights of a product. Ferring is a recognized leader in Inflammatory Bowel Disease (IBD) including ulcerative colitis and Crohn’s disease, and aims to become a global player in the broader gastroenterology field. Ferring believes that the novel therapy elobixibat, which is targeting a currently under-served, but large patient population, will significantly strengthen its gastroenterology portfolio.
Elobixibat is due to enter Phase III trials for the CIC indication and Phase IIB trials for the IBS-C indication shortly.
Financial terms:
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