EXTON, Pa.--(Business Wire)--
Adolor Corporation (NasdaqGM:ADLR) today announced that it has acquired from Eli
Lilly and Company ("Lilly") the exclusive worldwide rights to OpRA III, a
clinical-stage product candidate.
OpRA III is a potent opioid receptor antagonist, with potential use in multiple
therapeutic indications. Adolor intends to initially develop OpRA III to treat
opioid bowel dysfunction (OBD) and will initiate clinical trials of this
compound for this indication in early 2010. This compound will be developed in
parallel with ADL7445 as part of the Company`s OBD Program. Moving forward, OpRA
III will be identified as ADL5945.
"OpRA III has a unique profile with the potential to address the
gastrointestinal disorders associated with the use of opioid analgesics," said
Michael R. Dougherty, President and Chief Executive Officer of Adolor. "Adolor
has a wealth of experience in this therapeutic area and the addition of OpRA III
to our OBD portfolio provides us with another clinical-stage compound with which
we can potentially address a large and underserved market."
Lilly has completed both a Phase 1 single, escalating dose placebo-controlled
safety study and a Phase 1 multiple, escalating dose placebo-controlled safety
study in healthy volunteers for OpRA III.
Financial terms of the agreement include an upfront payment of $2 million to
Lilly, royalties on net sales of any approved product and up to approximately
$70 million in milestones contingent upon achievement of pre-defined, late-stage
clinical and regulatory events and achievement of certain sales targets.
About Adolor Corporation
Adolor Corporation is a biopharmaceutical company specializing in the discovery,
development and commercialization of novel prescription pain management
products.
Adolor`s first approved product in the United States is ENTEREG (alvimopan),
which is indicated to accelerate the time to upper and lower gastrointestinal
recovery following partial large or small bowel resection surgery with primary
anastomosis. ENTEREG is available for short-term use in hospitals registered
under the E.A.S.E. Program. For more information on ENTEREG, including its full
prescribing information, visit www.ENTEREG.com. In collaboration with
GlaxoSmithKline (GSK), the Company launched ENTEREG in mid-2008.
The Company`s research and development pipeline includes: two novel delta opioid
receptor agonists, currently in mid-stage clinical development in collaboration
with Pfizer Inc. for chronic pain; two opioid receptor antagonists, ADL7445 and
ADL5945 (OpRA III), entering development for chronic opioid bowel dysfunction
(OBD); and several opioid and non-opioid discovery programs.
For more information, visit www.adolor.com.
Forward-Looking Statements
This press release, and oral statements made with respect to information
contained in this release, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.Forward-looking
statements provide Adolor`s current expectations or forecasts of future events.
These may include statements regarding market prospects for ENTEREG; anticipated
scientific progress on its research programs; development of potential
pharmaceutical products, including ADL5945, the timing of any studies with this
compound, the compound's potential use in multiple therapeutic indications,
including gastrointestinal (GI) disorders, and the extent of Adolor's experience
in the GI area; interpretation of clinical results; prospects for regulatory
approvals; and other statements regarding matters that are not historical facts.
You may identify some of these forward-looking statements by the use of words in
the statements such as "anticipate," "estimate," "expect," "project," "intend,"
"plan," "believe" or other words and terms of similar meaning or that otherwise
express contingencies, goals, targets or future development.These statements are
based upon management`s current expectations and are subject to risks and
uncertainties, known and unknown, that could cause actual results and
developments to differ materially from those expressed or implied in such
statements due to general financial, economic, regulatory and political
conditions affecting the biotechnology and pharmaceutical industries, as well as
more specific risks and uncertainties facing Adolor such as those set forth in
its reports on Forms 8-K, 10-Q and 10-K filed with the U.S. Securities and
Exchange Commission.Adolor urges you to carefully review and consider the
disclosures found in its filings which are available at www.sec.gov and from
Adolor at www.adolor.com.Given the uncertainties affecting pharmaceutical
companies such as Adolor, any or all of these forward-looking statements may
prove to be incorrect.Therefore, you should not rely on any such factors or
forward-looking statements.Adolor undertakes no obligation to publicly update or
revise the statements made herein or the risk factors that may relate thereto
whether as a result of new information, future events, or otherwise, except as
may be required by law.
This press release is available on the website http://www.adolor.com.
Adolor Corporation
Lizanne Wentz, 484-595-1500
Copyright Business Wire 2009
