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Synvista Therapeutics, Inc.

Drug Names(s): BXT-51072, ALT-2074

Description: ALT-2074 (formerly BXT-51072) is small molecule organoselenium compound which acts as a glutathione peroxidase mimetic. Like native glutathione peroxidase, ALT-2074 catalyzes the reduction of hydroperoxides to less toxic species using glutathione (GSH) as the reducing agent. The hydroperoxides could otherwise lead to the formation of free radicals, which can cause tissue damage. ALT-2074 also down-regulates the gene transcription which leads to the production of a wide array of inflammatory mediators.

Deal Structure: ALT-2074 (BXT-51072) was licensed by Oxis to Alteon in September 2004.

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. Genentech will acquire the right of first negotiation for ALT-2074.

In April 2007, Alteon and OXIS International announced that they have amended and restated an existing licensing agreement. Under the new terms of the agreement, Alteon obtains exclusive worldwide rights to develop, manufacture and market ALT-2074 and related organoselenium compounds in the OXIS library in all indications. Alteon will be responsible for the worldwide product development programs and will pay OXIS an upfront license fee and make an equity investment, as well as pay additional fees for the achievement of certain development and regulatory approval milestones, and royalties.

In July 2007, Alteon changed its name to Synvista Therapeutics.

SYI-2074 News

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