Updated on 4 July 2016
Singapore: Takeda Pharmaceutical Company Limited and Altos Therapeutics LLC have jointly announced that the companies have entered into a definitive agreement to further the development of Altos's proprietary compound ATC-1906. Additionally, the agreement includes an exclusive option for Takeda to acquire Altos beginning on the date of the agreement and continuing for a period of time following the completion of ongoing phase I studies of ATC-1906. The parties envision future development of ATC-1906 for the treatment of gastroparesis (GP) and its symptoms.
GP is a chronic gastric motility disorder characterized by delayed gastric emptying. Symptoms include early satiety, post-prandial fullness, nausea, vomiting, and abdominal discomfort. Diabetic gastroparesis and idiopathic gastroparesis have high unmet need.
Altos Therapeutics, a single asset company, is developing the ATC-1906 compound as an oral dopamine D2/D3 receptor antagonist that addresses the symptoms of nausea and vomiting in GP patients. As part of the agreement, Takeda will provide Altos an upfront payment for the option to acquire Altos. If Takeda elects to exercise the option, Takeda would make an additional payment to acquire Altos, and would then assume control over development and commercialization of ATC-1906. Altos would be eligible to receive additional payments linked to clinical development and achievement of key commercial milestones. No further details of the agreement were disclosed.
"There is a significant unmet need for a treatment to help patients with gastroparesis, and developing novel and innovative treatments for patients suffering from gastrointestinal disorders is a top priority for Takeda's global R&D strategy," said Dr Asit Parikh, Senior Vice President and head of Takeda's Gastroenterology Therapeutic Area Unit. "This agreement reinforces Takeda's commitment to developing highly differentiated medicines to improve the health and quality of life of patients around the world."
Oppenheimer & Co. acted as exclusive financial advisor, and Cooley LLP acted as legal counsel to Altos. Polsinelli acted as legal counsel to Takeda.