• News
  • SAN DIEGO
  • BioTech

Arena enters license agreement with Ildong Pharmaceuticals

San Diego-based Arena Pharmaceuticals Inc. (Nasdaq: ARNA) Wednesday announced it has entered into a co-development and license agreement with Ildong Pharmaceutical Co. Ltd. for temanogrel, Arena's internally discovered inverse agonist of the serotonin 2A receptor.

The agreement grants Ildong exclusive rights to commercialize temanogrel in South Korea for myocardial infarction, acute coronary syndrome, stroke, peripheral artery disease and other cardiovascular diseases, subject to further development and regulatory approval of temanogrel.

Initially, Ildong will be responsible for funding and conducting, under the direction of a joint steering committee, the next two planned clinical trials in this program: an additional Phase 1 trial in healthy volunteers and a Phase 2a proof-of-concept trial in patients.

Arena will maintain ownership of temanogrel outside of South Korea, and has the rights to use data generated by Ildong for the development and potential commercialization of temanogrel outside of South Korea by Arena or other Arena licensees. In addition, Ildong has agreed to pay Arena a $2 million development milestone if the planned additional Phase 1 and Phase 2a clinical trials conducted by Ildong support continued development, and Arena or another Arena licensee initiates a Phase 2b clinical trial of temanogrel.

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

User Response
0 UserComments

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

Arena Pharmaceuticals Inc.

Company Website

6166 Nancy Ridge Drive
San Diego, CA 92121

Company Trade Data

Stock Symbol Close
Change
Chg %Chg
Volume
52-Week
High Low
ARNA
2.31
  -0.09  
- 3.75%
6,822,556,000
6.28
1.73

Insider Trade Data

Date Insider Shares Type Value
03/17/2015 Spector, Steven W 70,000 Exchange $105,803
03/17/2015 Spector, Steven W 70,000 Sell $350,000
03/17/2015 Spector, Steven W 70,000 Exchange $105,803
03/17/2015 Spector, Steven W 70,000 Sell $350,000
01/08/2015 Spector, Steven W 45,000 Exchange $277,200

Arena Pharmaceuticals Inc. Executive(s):

Jack Lief

  • Chairman, Chief Executive Officer, President

Similar Companies

NAICS - 424210 - Drugs and Druggists' Sundries Merchant Wholesalers
NAICS - 541711 - Research and Development in Biotechnology