Tranzyme Pharma and Norgine jointly develop product
Tranzyme Pharma and Norgine have entered into a licensing agreement that provides Norgine with the exclusive rights to develop and commercialize Tranzyme’s novel ghrelin agonist, ulimorelin, in Europe, Australia, New Zealand, the Middle East, South Africa and North Africa.
Tranzyme Pharma is a clinical-stage biopharmaceutical company and Norgine a European specialty pharmaceutical company. Under the agreement, Norgine will make an upfront payment of $8 million and will also make an equity investment in Tranzyme.
Ulimorelin (TZP-101) is entering Phase 3 development for the treatment of gastrointestinal dysmotility conditions in acute care settings. The companies will jointly fund further development of the drug and anticipate initiating pivotal Phase 3 studies in the second half of 2010.
