Clinical Data, Inc. (NASDAQ: CLDA), and Santen Pharmaceutical Co., Ltd. (Osaka Stock Exchange: 4536), today announced that Santen has exercised its option to license Clinical Data's highly selective adenosine A2A agonist compound, ATL313, for the development of topical treatments for certain ophthalmic diseases, including glaucoma. ATL313, a promising late-stage preclinical compound, has shown significant pharmacological effects in vivo and has been nominated as a clinical candidate.
“We continue to seek new opportunities that will advance the development of our adenosine compounds for other indications, including inflammatory and pain disorders.”
Under the license agreement, Clinical Data will receive an upfront payment of $2 million, followed by development, regulatory and commercial milestone payments subject to the fulfillment of certain conditions, as well as royalties on product sales. In exchange, Santen will obtain a worldwide license to adenosine agonist ATL313 and an option for an additional compound for the development and commercialization of treatments for certain ophthalmic diseases, including glaucoma. Clinical Data will retain intellectual property rights for the development of ATL313 outside of the field of any ophthalmic disease, disorder or condition by topical administration into the eye, as well as rights to use the data generated for purposes outside the field. Clinical Data has licensed certain of these rights to CombinatoRx, Inc. for developing B-cell cancer therapies, retaining a co-development option after review of initial Phase IIa study results.
"The agreement with Santen, one of the world's leading pharmaceutical companies specializing in ophthalmic diseases, results from a growing body of data supporting the use of our highly selective adenosine A2A agonists for treating certain eye disorders," said Drew Fromkin, President and CEO of Clinical Data. "We continue to seek new opportunities that will advance the development of our adenosine compounds for other indications, including inflammatory and pain disorders."
In May 2007, Santen entered into an option agreement to evaluate Clinical Data's library of adenosine A2A agonists in an effort to identify and confirm activity in one or more lead compounds. Encouraging results from advanced preclinical studies led to the selection of ATL313 for further development of topical ophthalmic treatments by Santen. Santen also retains an option to an additional compound, to be exercised within a year from signing the license agreement.
"We are encouraged by the results of our work with Clinical Data's adenosine compounds to date and based on continued positive findings from further studies, plan to file an IND for ATL313 in the shortest possible time or hopefully in a year," said Akira Kurokawa, President and CEO of Santen.
SOURCE Clinical Data, Inc.