NPS Pharmaceuticals Inc. and its Canadian subsidiary, NPS Allelix Corp., announced Tuesday that the company has signed a product license agreement with Forest Laboratories to develop ALX-0646, NPS's drug candidate for the treatment of migraine headaches.
Under the terms of the agreement with NPS, Forest has exclusive, worldwide rights to complete development and to market the compound. Financial terms of the agreement were not disclosed.
NPS said ALX-0646 appears to be less likely to cause cardiovascular side effects than other migraine treatments currently on the market. NPS Allelix has successfully completed Phase I clinical testing with the compound outside the United States. Forest is conducting additional necessary toxicology studies prior to beginning U.S. clinical trials.