Abbott signs $575 million endometriosis drug deal with Neurocrine
16 Jun 2010
Diversified pharmaceuticals major Abbott Laboratories today said that it will pay $575 million to Neurocrine Biosciences to develop and commercialise its experimental drug elagolix for the treatment of endometriosis-related pain.
Elagolix is a novel, first-in-class oral gonadotropin-releasing hormone (GnRH) antagonist, which has recently completed a phase IIb study for the treatment of endometriosis.
In addition to endometriosis, elagolix will be evaluated for the treatment of uterine fibroids.
Founded in 1992 and based in San Diego, California, Neurocrine Biosciences, is a biopharmaceutical company focused on neurological and endocrine diseases and disorders.
The company has eight experimental drug programmes in various stages of research and development, including five programmes in clinical development.
Under the terms of the deal, North Chicago, Illinois-based Abbott will receive worldwide exclusive rights to develop and commercialise elagolix and all next-generation GnRH antagonists. Abbott will make an upfront payment of $75 million and will fund all ongoing development activities.
