Xoma transfers perindopril franchise to Symplmed startup
This article was originally published in Scrip
Xoma has transferred its rights to the hypertension drug perindopril that it licensed from Les Laboratoires Servier in early 2012 to a new firm founded by two of the Berkeley, California-based company's former employees.
Symplmed Pharmaceuticals will take over marketing for Aceon (perindopril erbumine) and development for a fixed-dose combination (FDC) of the ACE inhibitor perindopril arginine and the calcium channel blocker amlodipine besylate. Servier markets a perindopril-amlodipine FDC as Coveram in 91 countries outside the US. Symplmed intends to file a new drug application (NDA) for the product with the US FDA by the end of 2013.
Xoma licensed the perindopril franchise to serve as the backbone on which the company would build its commercial operations ahead of approval for its lead product candidate gevokizumab (scripintelligence.com, 19 January 2012).
The monoclonal antibody targeting interleukin-1 beta, which is in development in partnership with Servier, is under evaluation in three Phase III clinical trials for the treatment of non-infectious uveitis, including Behcet's uveitis (scripintelligence.com, 28 June 2012).
Xoma will continue to manage Aceon sales and distribution in the US under Symplmed's sublicense for the drug. Under the companies' agreement, Xoma will take an undisclosed equity position in Symplmed. Xoma also will earn royalties on sales of the fixed-dose perindopril combination that could go as high as the double-digits, if the FDC wins FDA approval.
Xoma closed up 4.9% at $3.86 per share – a gain of $0.18 – on 3 July, which was a half-day of stock trading in the US ahead of the 4 July Independence Day holiday.
Symplmed was started by former XOMA employees Erik Emerson and Jeffrey Feldstein, who are the new company's CEO and chief medical officer, respectively, and a third co-founder August Troendle. Mr Emerson and Dr Feldstein were directly involved with Aceon development and commercialization at Xoma and both men have experience marketing cardiovascular drugs.
Xoma said in November that it was looking for a third-party to take over development and commercialization for the perindopril franchise after the 837-patient Phase III PATH clinical trial showed that the perindopril-amlodipine FDC was superior by statistically significant margins compared to either of the combination's components alone in reducing blood pressure after six weeks of treatment (scripintelligence.com, 22 November 2012).
Coveram generated about $150 million in 2011 sales for Servier outside of the US, but the perindopril franchise has the potential to offer further income for Symplmed and royalties for Xoma outside of Aceon and the perindopril-amlodipine FDC. The Xoma rights sublicensed to Symplmed include two more perindopril FDCs. All three drug combinations have patent protection in the US until 2023.