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news.Santen Pharmaceutical has filed an investigational new drug (IND) application with the US Food and Drug Administration (FDA) for Clinical Data's selective adenosine A2A agonist, ATL313, for the treatment of primary open angle glaucoma and ocular hypertension.
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Under the terms of a license agreement for ATL313 entered into by the two companies, the IND filing will trigger a $2m milestone payment to Clinical Data on or before 15 January 2011.
In addition to the milestone payment, Clinical Data is also eligible to receive further development, regulatory and commercial milestone payments on the basis of fulfillment of certain conditions, including royalties on product sales.
Santen plans to begin clinical trials of ATL313 in early 2011, pending FDA approval of the IND application.
Clinical Data has the intellectual property rights for the development of ATL313 outside of the field, including the rights to utilise the data arising from the collaboration for purposes outside the field.
Clinical Data president and CEO Drew Fromkin said achieving this milestone with Santen, a world-leader in developing ophthalmic treatments, further validates the potential of our pipeline of products that selectively target adenosine receptors.