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news.Progenics has earned a $5 million payment from Wyeth as part of a collaborative agreement over methylnaltrexone for the treatment of post-operative ileus, an impairment of the gastrointestinal tract.
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In December 2005, Wyeth and Progenics entered into a collaboration to develop methylnaltrexone. Under the terms of the agreement, Progenics has the potential to receive as much as $356.5 million.
This first milestone payment under their agreement was triggered by Progenics' initiation of a phase III clinical trial of intravenous methylnaltrexone. Methylnaltrexone is an investigational drug that is designed to treat the peripheral side effects of opioid analgesics without interfering with pain relief.
Progenics and Wyeth plan a second global phase III study scheduled to begin later this year. A new drug application is planned for intravenous methylnaltrexone in late 2007 or early 2008. The intravenous form of methylnaltrexone has also received fast track designation from the FDA.
In a previous phase II study of intravenous methylnaltrexone in patients who had undergone colectomy surgery, those individuals who received methylnaltrexone exhibited an acceleration of gastrointestinal recovery by at least one day on average compared to placebo.