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Drug Names(s): ATL-962, cetilistat, Oblean (JP)
Description: Cetilistat is an inhibitor of gastro-intestinal lipases, is designed to cause weight loss by reducing the digestion and thus the absorption of fat from the diet.
Deal Structure: On January 30, 2004, Takeda exercised its option to acquire an exclusive development and marketing right of ATL-962 in Japan. Takeda paid a milestone payment of $3 million to Alizyme, in addition to the downpayment of $2 million that was paid in August 2003. The agreement stipulates future milestones payments of up to $37 million, and also royalties on sales in Japan.
In July 2009, Alizyme announced that, at its own request, trading in the Company's ordinary shares has been suspended with effect from 3.30 pm on July 24, 2009. On June 29, 2009, the Company announced in a trading update that it did not expect to have sufficient funding to last beyond the end of August 2009 and that it would be unable to continue as a going concern without urgently raising additional funds. As part of the trading update, the Company also announced that it was in discussions with its commercial partners to mitigate potential increased funding obligations under its licensing and development agreements...See full deal structure in Biomedtracker
Partners: Takeda Pharmaceutical Company Ltd Alizyme plc
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