Purdue Pharma L.P., the Connecticut-based pharmaceutical company, has reportedly announced that it has signed a partnership agreement with Alivio Therapeutics to advance one of its product candidates via clinical development.

As per trusted sources, Purdue Pharma would have an option to invest in the next equity financing of Alivio Therapeutics. Reportedly, Alivio is eligible to receive royalties on product sales and more than USD 260 million in R&D milestones. Moreover, the firm is also slated to be paid up to USD 14.75 million in upfront and near-term license exercise payments.

President and Chief Executive Officer of Purdue Pharma, Craig Landau M.D., was reportedly quoted saying that the latest partnership is a significant milestone in the company’s continued pursuit of non-opioid treatments for pain and underscores a major step to further diversify product portfolio. Purdue Pharma is impressed with the innovative platform technology of Alivio as it focuses on meeting the patient needs, especially in regions where very few treatment options are available, Landau further added.

For the record, ALV-107 is a non-opioid treatment presently being developed for interstitial cystitis/bladder pain syndrome. Sources familiar with the development claim that the ALV-107 program recently secured a USD 3.3 million U.S. Department of Defense (DoD) Technology/Therapeutic Development Award. The funds would be utilized to back the preclinical R&D activities, including GMP manufacturing and ensure the filing of an investigational new drug (IND) application.

Chief Innovation Officer of PureTech and a Co-founder of Alivio Therapeutics, Eric Elenko, PhD, reportedly commented that the company is delighted to forge the new collaboration aimed at advancing ALV-07 for the potential treatment of interstitial cystitis/bladder pain syndrome. Alivio is swiftly progressing its potential application across inflammatory bowel and pouchitis disease as part of its internal R&D lab.

Moreover, the platform technology of the firm has been created to resolve numerous inflammatory conditions and the non-opioid approach may provide a unique novel treatment option for an ailment where there is a humongous unmet need, Elenko further added.