XenoPort and Xanodyne sign exclusive license agreement

The drug, XP21510, is a non-hormonal, oral product for the potential treatment of women diagnosed with menorrhagia, or heavy menstrual bleeding. It is estimated that 9 to 14% of healthy women suffer from menorrhagia.

Under the terms of the agreement, Xanodyne receives exclusive rights to develop and commercialize XP21510 in the US. In exchange for these rights, XenoPort is entitled to receive up-front cash payments totaling $12 million, of which $6 million is payable upon execution of the agreement and the remaining $6 million is due on the 12-month anniversary of the execution date.

XenoPort also will be eligible to receive aggregate cash payments of up to $130 million and $5 million for XP21510 and XP12B, respectively, upon the achievement of certain development, regulatory and commercial milestones.

Xanodyne said that it intends to develop XP21510 as a follow on product to the company’s Phase III tranexamic acid product candidate, XP12B, for the treatment of menorrhagia. Xanodyne said that XP12B and XP21510 may provide for a sustainable product life cycle opportunity in this treatment area.

Greg Flexter, chief executive officer of Xanodyne, stated: “Women suffering from menorrhagia and their healthcare providers need improved treatments for this potentially life-altering disorder. Our collaboration with XenoPort to develop XP21510 may provide a non-hormonal, non-surgical option for addressing the biological processes resulting in menorrhagia.”