A version of the bipolar disorder and schizophrenia drug Risperdal will begin being used in human trials, Zogenix Inc. announced to the Associated Press on Tuesday.
The drug, called Relday, is taken once a month and administered under the skin without the use of needles.
According to AP, Zogenix said it will pay Durect Corp. as much as $105.3 million, including $2.3 million upfront, for the right to develop and market the drug. The deal also includes royalties on potential sales.
Relday could begin being used in clinical trials in early 2012 following the filing of an investigational new drug (IND) application, Zogenix told AP.
Roger L. Hawley, CEO of Zogenix, told MarketWatch.com, "Relday is the result of a focused pre-clinical formulation development effort with DURECT. We believe Relday has best-in-class potential because it consists of a proven drug with improved attributes that our market research indicates are preferred by psychiatrists. The target audience of U.S. psychiatrists can be covered efficiently with a relatively small sales force. Outside the United States, we expect Relday will be of great interest to prospective commercial partners. We look forward to working with DURECT to file an IND for Relday which will enable initiation of clinical development in early 2012."
