Trevena, Forest sign collaborative agreement to develop TRV027 for treatment of ADHF

Trevena, Inc., (Trevena) a clinical stage pharmaceutical company and the leader in the discovery and development of G-protein coupled receptor (GPCR) biased ligands, and Forest Laboratories Holding Limited (Forest), a subsidiary of Forest Laboratories Inc. (NYSE: FRX), an international pharmaceutical company, announced today that they have entered into a collaborative licensing option agreement for the development of TRV027, an AT1R biased-ligand that recently completed Phase 2a clinical trials. Trevena expects to commence a 500-patient multi-center Phase 2b clinical trial in acute decompensated heart failure (ADHF) by year end.

Specific terms of the transaction were not disclosed but the agreement includes a $30 million equity investment by Forest in Trevena and the grant  by Trevena to Forest of an option to exclusively license TRV027 on a worldwide basis following completion of the planned Phase 2b clinical trial which will be funded by Trevena.  The parties will establish a joint development committee to oversee the development of TRV027 with Trevena retaining operational authority during the option period. Following the exercise of the option, Forest will make payments of up to $430 million, depending upon the achievement of future development and commercial milestones, plus royalties, and will have responsibility for the development and commercialization of the product.    

"We are excited to enter into this collaboration with Trevena, a leader in the ground breaking science of GPCR biased ligands. TRV027 represents an important opportunity for Forest to build on our presence in the cardiovascular market and the hospital segment. ADHF is the fourth leading cause of hospitalizations in the United States and there has been no material change in the standard of care for patients with ADHF for decades. TRV027 has the potential to be a significant new advance in the treatment of ADHF because it addresses the underlying pathophysiology of the disease which has been demonstrated in pre-clinical and early clinical work by Trevena," said David Solomon , Forest's SVP of Corporate Development & Strategic Planning.

" Forest Labs brings a wealth of drug development and commercialization experience to the TRV027 program," said Maxine Gowen , Trevena's President and Chief Executive Officer. "This collaboration provides us with an opportunity to maximize the potential of this promising compound, and further validates our biased ligand approach to GPCR drug discovery." 

Under the terms of the deal, Forest Labs will lead Trevena's $60 million Series C financing round with a $30 million investment.  An executive of Forest Laboratories will also join Trevena's Board of Directors. Existing investors also participating in the round are Alta Partners, Healthcare Ventures, NEA, Polaris and Yasuda Enterprise Development Company.