Actavis signs option to acquire relamorelin developer

22 October 2014

Ireland-headquartered Actavis (NYSE: ACT) has been granted an exclusive option to acquire USA-based biopharma company Rhythm Pharmaceutical's wholly-owned subsidiary, Rhythm Health Inc, which is developing relamorelin (RM-131), a peptide ghrelin agonist, for the treatment of diabetic gastroparesis and other gastro-intestinal (GI) functional disorders.

Rhythm has completed a successful Phase II trial of relamorelin for the treatment of diabetic gastroparesis and a second successful Phase II study for chronic constipation. Rhythm expects to initiate a Phase IIb clinical trial for the treatment of diabetic gastroparesis by early 2015.

Terms include an upfront $40 million

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