Lipid Therapeutics Licenses European Rights to its Lead Product
Dr. Falk Pharma GmbH and Lipid Therapeutics, a biotechnology company focused on novel treatments for inflammatory bowel disease, recently announced they have entered into a licensing agreement for the European rights to Lipid Therapeutics’ lead product, LT-02, for ulcerative colitis (UC). The terms of the license include an up-front fee, milestones, and royalties.
Following a co-development and option agreement in 2009, Dr. Falk GmbH will assume full responsibility for the further development and commercialization of LT-02 in
LT-02 is a delayed-release formulation of phosphatidylcholine designed to improve the barrier function of the mucosal layer of the colon. Data from a positive European Phase II trial conducted in 156 patients with UC will be presented at the Digestive Disease Week (DDW) conference in
“We are pleased to exercise our option to license European rights to LT-02 based on the positive outcome of the recent Phase II trial,” said Ursula Falk, CEO of Dr. Falk Pharma. “The novel mechanism of action, combined with an excellent safety profile, provides a new approach to treating UC patients who are poorly controlled on existing therapies.”
“Our agreement with Dr. Falk Pharma is an important step toward bringing LT-02 to patients suffering from UC,” added Dr. Gerhard Keilhauer, CEO of Lipid Therapeutics. “We highly value Dr. Falk’s expertise in the gastrointestinal market. Lipid Therapeutics is now preparing to meet with the FDA to agree on a coordinated development pathway in the
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