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news.Shire Pharmaceuticals shares have risen over five percent after the company signed a non-binding initial agreement to globally develop and commercialize a new ADHD compound from New River Pharmaceuticals Inc.
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The compound, currently known as NRP104, is in phase III clinical development in the US. New River Pharmaceuticals expects the product to reach the market in the US by 2006.
NRP104 is a new chemical entity – an amphetamine prodrug where lysine is linked to d-amphetamine single salt. The compound is inactive until metabolized in the GI tract and thus may offer the advantage of reduced potential for abuse or overdose, and may have a unique safety profile versus traditional stimulants.
“We are impressed with the New River Pharmaceuticals technology platform and with NRP104 in particular,” commented Matthew Emmens, Shire’s CEO. “When a definitive agreement is reached, access to this unique compound will support our vision of maintaining a leadership position in the treatment of ADHD in the years ahead.”
As negotiations continue deal terms are not being disclosed. Under the terms of the letter of intent, Shire has the exclusive right to negotiate a transaction with New River until January 31, 2005. The final agreement will be subject to all necessary regulatory approvals.