$25 million milestone for Ardelyx from tenapanor deal with AstraZeneca
Closely-held US biopharma firm Ardelyx has received a $25 million milestone payment from Anglo-Swedish drug major AstraZeneca (LSE: AZN) for the initiation of a Phase IIb clinical trial evaluating tenapanor for the treatment of hyperphosphatemia, or elevated serum phosphorus, in patients with end-stage renal disease on hemodialysis (ESRD-HD).
With this payment, Ardelyx has received a total of $75 million in upfront and milestone payments from AstraZeneca under a worldwide exclusive license agreement announced in 2012 which included an upfront $35 million and milestones of $237.5 million (The Pharma Letter October 8, 2012).
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