Ranbaxy Laboratories Limited (Ranbaxy) announced that the Company has received $ 4 mn milestone payment from Schwarz Pharma AG, Germany, towards further development progress of the molecule, RBx 2258 for the treatment of Benign Prostate Hyperplasia (BPH).
In June 2002, Ranbaxy and Schwarz Pharma signed a licensing deal of Ranbaxy's new chemical entity RBx-2258 for the treatment of Benign Prostate Hyperplasia (BPH). As per the agreement, Schwarz Pharma obtained exclusive rights to develop, market and distribute the product in USA, Japan & Europe while Ranbaxy retained rights to all other markets.
According to the release, Ranbaxy has already received an upfront payment of US$ 6 mn. The agreement also provides for Ranbaxy to manufacture and supply finished formulations of the product to Schwarz Pharma.
The compound is an uro-selective alpha-blocker, which has patent protection until 2018. This alpha-1-adrenoceptor antagonist belongs to the latest generation of alpha-blockers for the treatment of BPH. The aim is to develop a once-a-day formulation with rapid relief of symptoms, especially an improved efficacy on Lower Urinary Tract Symptoms, a low incidence of side effects and good compliance and patient acceptance.
Schwarz Pharma AG develops and markets drugs for unmet medical needs with focus on Central Nervous System, Urology and Cardiovascular diseases.
Schwarz Pharma completed phase-I clinical trials of RBx 2258 in Europe and the molecule is now moving into phase-II trials in Europe and South Africa. In India the compound RBx-2258 is currently progressing well in clinical phase II trials.