Axcan, AGI sign development deal for reflux disease therapies

By Elaine Rigoli

Tampa, Fla., Sept. 26 - Axcan Pharma, Inc. and AGI Therapeutics, plc signed a license and co-development agreement for AGI-010, a delayed/controlled release formulation of the proton pump inhibitor drug omeprazole being developed for the treatment of gastro-esophageal reflux disease and nighttime gastric acidity.

The Quebec pharmaceutical company paid AGI a $1.5 million upfront fee on signing and will make specified milestone payments that could total up to $17.5 million, with the majority contingent upon achievement of regulatory milestones.

In addition, the agreement calls for Axcan to pay AGI royalties on future net sales. Axcan and AGI will collaborate in developing AGI-010 and will share development costs until a New Drug Application is submitted.

If approved, AGI-010 would be marketed by Axcan with AGI having an option to co-promote AGI-010 to a selected target group in the gastrointestinal market, according to a news release.

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