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Synvista Therapeutics, Inc.
Drug Names(s): Alagebrium Chloride, ALT-711
Description: Alagebrium (formerly ALT-711) is Alteon's lead clinical candidate for reversing the progressive stiffening of the cardiovascular system that ultimately results in systolic hypertension, diabetic cardiomyopathies, congestive heart failure and other disorders. It is one of many proprietary Advanced Glycation End (A.G.E.) Crosslink Breakers that function unlike any previously developed pharmaceutical agent to reverse the disease states associated with age (or diabetes)-related stiffening of vessels, tissues and organs.
Deal Structure: In July 2005, Alteon merged with HaptoGuard, a private company. As part of the merger, Genentech transferred a portion of its shares of Alteon to HaptoGuard shareholders. In return, among other things, Genentech will receive milestone payments and royalties on net sales of alagebrium, if any.
In July 2007, Alteon changed its name to Synvista Therapeutics.
In March 2009, Roche and Genentech announced that they signed a merger agreement under which Roche will acquire the outstanding publicly held interest in Genentech for US95.00 per share in cash, or a total payment of approximately US$46.8 billion to equity holders of Genentech other than Roche. The acquisition was completed on March 26, 2009.
Partners: Roche Holding AG
Pink Sheet R&D IN BRIEF
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