Neurocrine Biosciences Inc. initiated a Phase IIb Clinical trial to evaluate its drug based on the synthetic hormone that treats non-cancerous tumors of the uterus called uterine fibroids.
The drug, called Elagolix, is being developed jointly with pharmaceutical developer based in Chicago, that abbvie Neurocrine Biosciences Inc. has entered into a collaboration and license agreement for the drug in 2010. with Abbott Laboratories in 2010, before the yarn sector become a separate company, AbbVie.
Neurocrine Biosciences Abbott paid an advance of $75 million, with provisions to extend up to 480 million $, based on the additional development and events focused on the regulatory payments. Neurocrine Biosciences commercialization could bring an additional $ 50 million $, plus a percentage of sales in the world.
"Based on the positive results of the fibroids uterine Phase IIa trials, uterine AbbVie in Phase IIb Elagolix for fibroids has progressed," Kevin Gorman, president and CEO of Neurocrine Biosciences, said in a statement. "We are satisfied with this promotion, as well as the Phase III program in endometriosis, and I look forward further development of Elagolix in these two diseases States which have high needs unmet medical needs."
About 250,000 hysterectomies are performed each year, associated with uterine fibroids.
Neurocrine Biosciences, a company listed on the Nasdaq, has a market capitalization of 759 million $.
-Staff report the SDBJ
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