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Abbott secures Phase II kidney care compound from Action Pharma

Thursday, May 03 2012 | Comments
Evidence Grade 0 What's This?
Abbott entered into an agreement to acquire AP214 from Action Pharma A/S, a step Abbott said would enhance its pipeline in renal care.

AP214 is a first-in-class melanocortin peptide that targets systemic inflammation and cellular death caused by lack of blood flow. The investigational compound is being developed as a treatment to prevent acute kidney injury (AKI) associated with major cardiac surgery in patients who are at increased risk and has potential in "adjacent" indications, according to Abbott. 

Under the agreement, Abbott will acquire the worldwide rights to develop and commercialize AP214 for the prevention of AKI and other relevant indications. Abbott will pay Action Pharma $110 million in cash and will be responsible for funding all future development and commercialization activities in connection with the compound. Action Pharma will not receive future milestone payments or royalties. Abbott anticipates incurring a one-time specified item in the second quarter related to this payment.

Last September, Action Pharma reported positive top-line Phase IIb data regarding the efficacy, safety and tolerability of AP214. Abbott said it plans to begin another Phase IIb study of the drug later this year.

In 2003, Action Pharma in-licensed Zealand Pharma A/S' SIP technology for use with pro-opiomelanocortin derivatives. As part of the agreement between Abbott and Action Pharma, Action Pharma's original licensing agreement with Zealand Pharma pertaining to the SIP technology is cancelled and is superseded by a new agreement between Abbott and Zealand Pharma for the technology.

When the transaction between Abbott and Action Pharma has been concluded, Action Pharma will make a one-time payment to Zealand Pharma of $11 million.

Under the agreement between Abbott and Zealand Pharma, Abbott will be solely responsible for the further development and commercialization of AP214, which is referred to as ZP1480 by Zealand Pharma, for the prevention of AKI and other relevant indications. Zealand Pharma will be entitled to a low-single-digit royalty on Abbott's future sales of AP214 if the product is successfully developed, approved and commercialized.

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