FREMONT, Calif., Sept. 1, 2015 /PRNewswire/ -- Ardelyx, Inc.
(NASDAQ: ARDX), a clinical-stage biopharmaceutical company focused
on gastrointestinal and cardio-renal diseases, today announced that
Sanofi notified Ardelyx of its termination of the option and
license agreement for Ardelyx's portfolio of NaP2b inhibitors
effective September 30, 2015. There
was no payment associated with termination and the return of
rights.
![Ardelyx logo Ardelyx logo](http://photos.prnewswire.com/prnvar/20140619/119451)
In February 2014, Ardelyx and
Sanofi entered into an option and license agreement under which
Ardelyx granted Sanofi an exclusive worldwide license to conduct
research utilizing Ardelyx's small molecule NaP2b inhibitors, also
called RDX002, for the treatment of hyperphosphatemia in ESRD
patients. If a development candidate were identified within a
defined period, Sanofi could exercise its option to obtain an
exclusive license to develop, manufacture and commercialize
Ardelyx's NaP2b inhibitors. Ardelyx received an upfront
payment of $1.25 million upon
execution of the agreement. The NaP2b inhibitors are all in early
stage research.
"We are pleased to regain control over research on NaP2b and
look forward to leveraging our knowledge of these inhibitors and
their effect on phosphate management as we seek to further
understand the mechanisms around phosphate lowering with
tenapanor. Importantly, we can now deepen our understanding
of NaP2b effects utilizing our proprietary research capabilities,
which was not fully possible under the terms of the Sanofi
agreement," said Jeremy Caldwell,
Ph.D., Executive Vice President and Chief Scientific Officer.
"The return of the research portfolio of NaP2b inhibitors allows
Ardelyx to expand its knowledge of all aspects of phosphate
management, complementing tenapanor, which is being evaluated in
mid-stage clinical trials for the treatment of hyperphosphatemia in
ESRD patients," said Mike Raab,
Ardelyx's President and CEO.
About Ardelyx
Ardelyx is a clinical-stage biopharmaceutical company focused on
the discovery, development and commercialization of innovative,
minimally-systemic, small molecule therapeutics that work
exclusively in the gastrointestinal tract to treat gastrointestinal
and cardio-renal diseases. Ardelyx has developed a proprietary drug
discovery and design platform enabling it, in a rapid and
cost-efficient manner, to discover and design novel drug
candidates. Utilizing this platform, the Company has discovered and
designed tenapanor, which it is evaluating for the treatment of
IBS-C and management of hyperphosphatemia in ESRD patients on
dialysis. In addition to tenapanor, Ardelyx is developing RDX022, a
non-absorbed polymer for the treatment of hyperkalemia, or high
potassium, in kidney and heart disease patients. Ardelyx is also
advancing several research programs focused in gastrointestinal and
cardio-renal diseases. Ardelyx is located in Fremont, California. For more information,
please visit Ardelyx's website at www.ardelyx.com.
Forward Looking Statements
To the extent that statements contained in this press release
are not descriptions of historical facts regarding Ardelyx, they
are forward-looking statements reflecting the current beliefs and
expectations of management made pursuant to the safe harbor of the
Private Securities Reform Act of 1995, including the potential for
tenapanor in treating IBS-C and hyperphosphatemia in ESRD patients
on dialysis, and Ardelyx's future development plans for RDX002.
Such forward-looking statements involve substantial risks and
uncertainties that could cause the development of tenapanor, or
Ardelyx's future results, performance or achievements to differ
significantly from those expressed or implied by the
forward-looking statements. Such risks and uncertainties include,
among others, the uncertainties inherent in research and the
clinical development process. Ardelyx undertakes no obligation to
update or revise any forward-looking statements. For a further
description of the risks and uncertainties that could cause actual
results to differ from those expressed in these forward-looking
statements, as well as risks relating to Ardelyx's business in
general, please refer to Ardelyx's quarterly report on Form 10-Q
filed with the Securities and Exchange Commission on August 12, 2015, and its future current and
periodic reports to be filed with the Securities and Exchange
Commission.
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SOURCE Ardelyx