Prometheus, Alizyme ink agreement for Colal-Pred
SAN DIEGO Prometheus Laboratories has entered into an agreement with Alizyme Therapeutics under which the former will receive an exclusive license to develop and commercialize Colal-Pred, a drug for gastrointestinal diseases. Colal, which is owned by Alizyme, has a unique drug delivery technology in which the drug, in this case an anti-inflammatory steroid in the colon, will provide efficacy but without the undesirable side effects usually associated with the use of systemic steroids.
Under the terms of the agreement, Prometheus made an upfront payment, which will be followed by additional payments based on the successful achievement of future development milestones, including approval from the Food and Drug Administration.
Prometheus will also sponsor virtually all of the clinical development and commercialization for the drug and will pay royalty rates, which will increase with higher annual net sales.
The company expects to file a drug application with the FDA in 2011.