Dr Reddy’s in pact with XenoPort to de­velop pso­ri­a­sis drug

The Financial Express - - COMPANIES -

Hy­der­abad, March 29: Dr Reddy’s Lab­o­ra­to­ries and XenoPort Inc, a bio­phar­ma­ceu­ti­cal com­pany, have en­tered into an agree­ment by which Dr Reddy’s Lab­o­ra­to­ries will be granted exclusive US rights for the devel­op­ment and com­mer­cial­i­sa­tion of XenoPort’s clin­i­cal-stage oral new chem­i­cal en­tity, XP23829. DRL said that it will re­ceive rights to de­velop and com­mer­cial­ize XP23829 for all in­di­ca­tions. In re­turn, XenoPort will re­ceive a $47.5 mil­lion up­front pay­ment and an ad­di­tional $2.5 mil­lion for trans­fer of cer­tain clin­i­cal trial ma­te­ri­als to Dr Reddy’s.

DRL plans to de­velop XP23829 as a po­ten­tial treat­ment for mod­er­ate-to-se­vere chronic plaque pso­ri­a­sis and may de­velop the drug for re­laps­ing forms of mul­ti­ple scle­ro­sis (MS).

XenoPort will also be el­i­gi­ble to re­ceive up to $190 mil­lion upon the achieve­ment by Dr Reddy’s Lab­o­ra­to­ries of cer­tain reg­u­la­tory mile­stones. In ad­di­tion, XenoPort will be el­i­gi­ble to re­ceive up to $250 mil­lion upon the achieve­ment of com­mer­cial mile­stones, and up to mid­teens roy­alty pay­ments based on po­ten­tial net sales of XP23829 in the US.

“XP23829 com­ple­ments our in­ter­nal devel­op­ment ef­forts, which have pri­mar­ily fo­cused on the mild-to-mod­er­ate pso­ri­a­sis seg­ment to date. In other mar­kets, fu­marates have been used as first line choices of treat­ment prior to ini­ti­a­tion of bi­o­logic ther­a­pies in pa­tients with mod­er­ate-to-se­vere pso­ri­a­sis. We in­tend to ini­ti­ate the reg­is­tra­tion pro­gramme for XP23829 as soon as fea­si­ble so that we can ac­cel­er­ate the avail­abil­ity of this im­por­tant treat­ment choice for mod­er­ate-to-se­vere pso­ri­a­sis pa­tients in the US mar­ket,” Raghav Chari, ex­ec­u­tive vice pres­i­dent, Pro­pri­etary Prod­ucts Group, DRL, said in a state­ment.

“As one of our key ob­jec­tives for 2016, we were in­ter­ested in find­ing a strong part­ner that would rec­og­nize the op­por­tu­nity of this in­no­va­tive ther­apy that we be­lieve will make a sig­nif­i­cant dif­fer­ence in the lives of pso­ri­a­sis and MS pa­tients. We are now fully fo­cused on our Horizant (gabapentin enacar­bil) ex­tended-re­lease tablets com­mer­cial­iza­tion ef­fort,” Vin­cent J An­gotti, chief ex­ec­u­tive of­fi­cer, XenoPort, Inc said.

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