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news.Ferring Pharmaceuticals has entered into a licensing agreement with Albireo for elobixibat, a first-in-class compound for chronic idiopathic constipation (CIC) and irritable bowel syndrome with constipation (IBS-C).
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Under the agreement, Ferring gained elobixibat global marketing rights, excluding Japan and a small number of Asian markets.
Ferring the executive board president and COO Michel Pettigrew said elobixibat complements the company’s gastroenterology portfolio, which includes Pentasa for IBD and Picoprep for bowel cleansing.
"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% up to almost a third of the population but that has seen little progress in treatment options over the years," Pettigrew added.
Albireo will receive a significant upfront licensing fee, milestones and tiered double-digit royalties from Ferring, which is responsible for the development costs in its territory.
Ferring believes that the novel therapy elobixibat, which will enter Phase III trials for the CIC indication and Phase IIB trials for the IBS-C indication shortly, will significantly strengthen its gastroenterology portfolio.