- In a regulatory filing, Ardelyx (NASDAQ:ARDX) discloses that Sanofi (NASDAQ:SNY) has notified it of its intent to terminate its option and license agreement for Ardelyx's portfolio of NaP2b inhibitors effective September 30.
- The agreement, consummated in February 2014, granted Sanofi an exclusive global license to conduct research with Ardelyx's NaP2b inhibitors (RDX002) for the treatment of hyperphosphatemia in patients with end-stage renal disease. If an attractive candidate was identified within the period, Sanofi could exercise its option to develop, manufacture and commercialize the NaP2b inhibitors, all of which are in early research phase.
- There is no payment due Ardelyx for the termination.