Alizyme and Prometheus sign UC drug deal
UK-based biopharmaceutical company Alizyme has granted US specialty pharmaceuticals firm Prometheus Laboratories a license to develop its proprietary drug, Colal-Pred (prednisolone metasulfobenzoate), for gastrointestinal diseases.
Under the terms of the deal, Prometheus has been awarded exclusive rights to develop and market the drug in the USA, Canada and Mexico in return for a $2.5 million upfront payment. In addition to this, Alizyme could receive a further $15.0 million on the achievement of certain development milestones, including US registration.
Prometheus, which will be primarily responsible for clinical development costs in the licensed territory, plans to being US trials of Colal-Pred in ulcerative collitis in the second half of next year. The US firm anticipates filing a New Drug Application with the Food and Drug Administration in 2011. In Europe, Alizyme will continue to develop the drug for UC, having recently announced that recruitment in a Phase III trial remains on-track to complete before the end of the year (Marketletter October 15).
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