Sciele Pharma has signed an exclusive agreement with Addrenex Pharmaceuticals to develop and market ADX415, a novel patented, central-acting, alpha adrenergic receptor agonist to Alpha-2 receptors, for the treatment of hypertension and other potential indications.
Under the terms of the agreement, the Atlanta-based Sciele, which will have the global marketing rights for ADX415, will pay the product development costs. The pharmaceutical company will also make regulatory milestone payments and royalty payments to the Durham, N.C.-based Addrenex on product sales.
Sciele and Addrenex expect to begin the Phase II clinical studies in the second half of 2008.
“This agreement further expands our relationship with Addrenex and provides the company with a product in Phase II clinical development, expanding our pipeline beyond 2010. This is the first new chemical entity that will be developed by Sciele,” said Ed Schutter, president and chief operating officer of Sciele.