Vivelix enters into agreement with Idera over rights to develop and market GI drug: 4 notes

Cambridge, Mass.-based Idera Pharmaceuticals and Bermuda-based Vivelix Pharmaceuticals entered into an exclusive license and collaboration agreement giving Vivelix the rights to develop and market IMO-9200, an antagonist of TLR 7,8 and 9, for non-malignant gastrointestinal disorders.

Here's what you need to know.

1. Vivelix paid Idera $15 million for rights to the drug. Idera is also eligible for IMO-9200 development, regulatory and sales milestones payments for up to $140 million.

2. Idera will develop back-up compounds to IMO-9200 at Vivelix's expense. Idera is eligible for up to $52.5 million in royalties based on net sales of those back-up compounds.

3. According to a release, "IMO-9200 is an orally delivered synthetic oligonucleotide-based antagonist of toll-like receptor 7,8 and 9"

In preclinical studies, the drug has "demonstrated activity" when used with acute and chronic inflammation in the GI tract.

4. CEO of Vivelix Bill Forbes said he is excited to develop the "potentially life-changing therapy."

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