Shire Pharmaceuticals Group plc has signed a non-binding initial agreement to globally develop and commercialize a new Attention Deficit Hyperactivity Disorder (ADHD) compound from New River Pharmaceuticals Inc.
The compound, currently known as NRP104, the company release says, is in phase III clinical development in the US. New River Pharmaceuticals expects the product to reach the market in the US by 2006.
NRP104 is a new chemical entity - an amphetamine pro-drug where lysine is linked to d-amphetamine single salt. Because it is inactive until metabolized in the GI tract, it may offer the advantage of reduced potential for abuse or overdose and may have a unique safety profile versus traditional stimulants, the release said.
Says Matthew Emmens, Shire's CEO: "We are impressed with the New River Pharmaceuticals technology platform and with NRP104 in particular. We are pleased to be in the final stage of our discussions. This partnership is of benefit to both parties because of Shire's track record and expertise in the ADHD market and its global structure. When a definitive agreement is reached, access to this unique compound will support our vision of maintaining a leadership position in the treatment of ADHD in the years ahead."
Under the terms of the letter of intent signed recently, Shire has the exclusive right to negotiate a transaction with New River until January 31, 2005. The final agreement will be subject to all necessary regulatory approvals.