Concert Pharmaceuticals Announces Milestone Achievement in Avanir Pharmaceuticals Collaboration
LEXINGTON, Mass.--(BUSINESS WIRE)--Feb 7, 2013 - Concert Pharmaceuticals, Inc. today announced that it has achieved a milestone under its licensing agreement with Avanir Pharmaceuticals, Inc. for the development of AVP-786 (also known as CTP-786 or deuterated dextromethorphan). Avanir has successfully completed the first of a two-stage pharmacokinetic study in healthy subjects with AVP-786. The worldwide licensing agreement with Avanir was entered into in 2012.
Based on interim data, Avanir believes that it has identified a formulation of AVP-786 with a comparable pharmacokinetic, safety and tolerability profile to a previously investigated fixed dose combination of dextromethorphan hydrobromide and quinidine sulfate, AVP-923. Avanir has requested a meeting with the FDA to discuss the full development path for AVP-786.
“The results of this study are very encouraging,” said Joao Siffert, MD, chief scientific officer for Avanir. “We were able to successfully replicate the steady-state plasma levels of AVP-923, but with a substantially lower dose of quinidine. Given these results, we believe that AVP-786 would be an ideal candidate to test in one or more of our ongoing clinical programs.”
“We are very pleased with these results and with Avanir's commitment to this program,” said Roger Tung, Ph.D., President and CEO of Concert Pharmaceuticals.
The exclusive license agreement provides Avanir with worldwide rights to develop and commercialize AVP-786 and other deuterium-modified dextromethorphan (d-DM) compounds that are believed to have potential for the treatment of neurological and psychiatric disorders. Under the agreement, Concert is eligible to receive additional milestone payments upon achievement of certain predefined clinical, regulatory and commercial targets. Avanir will continue to have overall responsibility for research, development and commercialization of d-DM compounds, including AVP-786, and Concert is eligible to receive tiered royalties on worldwide sales of any products containing d-DM.
AVP-786 is a novel compound developed through incorporation of deuterium into specific molecular positions of dextromethorphan. The compound maintains similar pharmacology to that of dextromethorphan, but is less susceptible to metabolism by the CYP2D6 enzyme.
Concert Pharmaceuticals is a clinical stage biotechnology company focused on applying the company's DCE Platform® (deuterated chemical entity platform) to create novel and differentiated small molecule drugs. Concert's approach leverages decades of pharmaceutical and clinical experience to reduce the time, risk and expense needed to create important new medicines. The company has a broad research pipeline encompassing many therapeutic areas including renal disease, hematologic disorders and CNS disorders, among others. Founded in 2006, Concert has raised more than $110 million of venture and institutional capital. For more information on Concert Pharmaceuticals, please visit www.concertpharma.com.
Concert Pharmaceuticals Inc., the CoNCERT Pharmaceuticals Inc. logo and DCE Platform are registered trademarks of Concert Pharmaceuticals, Inc. All other trademarks are those of their respective owners.
Justine E. Koenigsberg, 781-674-5284
The Yates Network
Kathryn Morris, 845-635-9828
Posted: February 2013