Ardelyx, Inc. (NASDAQ: ARDX), a clinical-stage biopharmaceutical company focused on gastrointestinal and cardio-renal diseases, today announced that Sanofi notified Ardelyx of its termination of the option and license agreement for Ardelyx's portfolio of NaP2b inhibitors effective September 30, 2015. There was no payment associated with termination and the return of rights.
In February 2014, Ardelyx and Sanofi entered into an option and license agreement under which Ardelyx granted Sanofi an exclusive worldwide license to conduct research utilizing Ardelyx's small molecule NaP2b inhibitors, also called RDX002, for the treatment of hyperphosphatemia in ESRD patients. If a development candidate were identified within a defined period, Sanofi could exercise its option to obtain an exclusive license to develop, manufacture and commercialize Ardelyx's NaP2b inhibitors. Ardelyx received an upfront payment of $1.25 million upon execution of the agreement. The NaP2b inhibitors are all in early stage research.
"We are pleased to regain control over research on NaP2b and look forward to leveraging our knowledge of these inhibitors and their effect on phosphate management as we seek to further understand the mechanisms around phosphate lowering with tenapanor. Importantly, we can now deepen our understanding of NaP2b effects utilizing our proprietary research capabilities, which was not fully possible under the terms of the Sanofi agreement," said Jeremy Caldwell, Ph.D., Executive Vice President and Chief Scientific Officer.
"The return of the research portfolio of NaP2b inhibitors allows Ardelyx to expand its knowledge of all aspects of phosphate management, complementing tenapanor, which is being evaluated in mid-stage clinical trials for the treatment of hyperphosphatemia in ESRD patients," said Mike Raab, Ardelyx's President and CEO.
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