Purdue Pharma, Alivio Partner in $275-Million Deal for Non-Opioid Pain KillersBy
Purdue Pharma and Alivio Therapeutics, a Boston-based pharmaceutical company focused on targeted disease immunomodulation for treating chronic and acute inflammatory disorders, have formed a $275-million pact ($14.75 million upfront and $260 million in potential milestones) for non-opioid treatments.
The pact centers on advancing one of Alivio’s product candidates through clinical development with an option exercisable by Purdue to collaborate on a limited number of additional compounds using Alivio’s inflammation-targeting technology. ALV-107 is a non-opioid treatment being developed for interstitial cystitis/bladder pain syndrome (IC/BPS).
Under the agreement, Alivio will receive up to $14.75 million in upfront and near-term license exercise payments and is eligible to receive royalties on product sales and more than $260 million in research and development milestones. Purdue also has an option to invest in Alivio’s next equity financing.
Alivio’s inflammation-targeting technology is designed to enable therapeutics, such as small molecules, biologics and nucleic acids, to act exclusively at sites of inflammation based on the degree of inflammation in the tissue while sparing healthy tissue, according to information from the companies. This approach is being evaluated by Alivio internally across a variety of inflammatory diseases, including IC/BPS, pouchitis, and inflammatory bowel disease.
The ALV-107 program recently received a $3.3-million US Department of Defense Technology/Therapeutic Development Award. The funds are directed to support Alivio’s preclinical research and development activities, including GMP manufacturing, to enable the filing of an investigational new application.
Source: Purdue Pharma