Elobixibat is a compound for chronic idiopathic constipation and irritable bowel syndrome with constipation.
The agreement gives Ferring rights to market the product globally with limited exceptions.
“Elobixibat perfectly complements our gastroenterology portfolio, which includes PENTASA for IBD and PICOPREP for bowel cleansing,” said Michel Pettigrew, president of the executive board and COO at Ferring, in the release. “We also have several promising products in our pipeline within gastroenterology. What is more, it fits well with our company philosophy of ‘People Come First’ – in particular the patient, as it addresses a problem that affects from 15 percent up to almost a third of the population but that has seen little progress in treatment options over the years.”
Ferring will pay Albireo an upfront licensing fee, milestones and royalties. Ferring will also be responsible for development costs in its territory.
Ferring is headquartered in Parsippany, N.J., while Albireo is headquartered in Sweden.
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