Kythera reacquires global rights to ATX-101
Kythera Biopharmaceuticals Inc. (NASDAQ:KYTH) is reacquiring rights outside of the U.S. and Canada to ATX-101 from partner Bayer AG (Xetra:BAYN). The synthetic sodium deoxycholate has completed Phase III testing to reduce submental (under chin) fat. Kythera -- which granted Bayer exclusive rights to co-develop and commercialize ATX-101 outside the U.S. and Canada in 2010 -- will now hold full global rights to the compound. The company plans to submit an NDA to FDA next quarter, with ex-U.S. regulatory submissions slated for the next 12 months. Bayer will receive $33 million in Kythera stock and a $51 million unsecured promissory note due March 2024. Bayer also is eligible for up to $123.8 million in ex-U.S. and ex-Canadian sales milestones. ...