UPDATE: Ardelyx regains tenapanor and related NHE3 portfolio rights from AstraZeneca
US biopharma company Ardelyx (Nasdaq: ARDX) says it has entered into a termination agreement with Anglo-Swedish pharma major AstraZeneca (LSE: AZN), such that all the rights to Ardelyx' portfolio of NHE3 inhibitors, including its lead product candidate, tenapanor, are returned to Ardelyx.
The decision comes about a month after Ardelyx announced that tenapanor failed to meet the primary endpoint of a Phase IIa clinical trial in patients with Stage 3 chronic kidney disease with type 2 diabetes mellitus and albuminuria (The Pharma Letter May 6). Under the terms of the agreement, AstraZeneca was obliged to communicate to Ardelyx on or before June 29, whether it will continue the development of tenapanor.
Ardelyx will pay AstraZeneca $25 million under termination terms
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