ATI-7505, indicated for the treatment of gastrointestinal disorders such as gastroesophageal reflux disease (GERD) and gastroparesis (delayed emptying of the stomach), is an oral, serotonin type 4 (5HT4) agonist that is in phase II development.
Based on its mechanism of action, initial studies show that ATI- 7505 prevents the regurgitation of stomach contents into the esophagus and accelerates the emptying of the stomach.
Aryx will receive a $25 million upfront fee, milestone payments, and royalties on product sales. Payments could reach $435 million over the life of the project, including $250 million that could be earned prior to commercialization.
These payments are contingent upon the successful completion of specified development, regulatory, and commercialization goals. In addition, Aryx has an option to co-develop and co-promote ATI-7505.
“P&G’s profound understanding of consumer behavior, coupled with its proven product development skills for prescription pharmaceuticals, makes them an ideal partner for the continued clinical development and commercialization of ATI-7505,” said Dr Paul Goddard, chairman and CEO of Aryx Therapeutics.