As part of the agreement, Forest will make a $30 million equity investment in Trevena and Forest will have an option to exclusively license TRV027 on a worldwide basis following the Phase IIb trial, which will be funded by Trevena. The parties will establish a joint committee to oversee the development of TRV027. Following the exercise of the option, Forest will make payments of as much as $430 million based on development and commercial milestones, plus royalties, and will have responsibility for the development and commercialization of the product.
"We are excited to enter into this collaboration with Trevena, a leader in the ground breaking science of GPCR biased ligands. TRV027 represents an important opportunity for Forest to build on our presence in the cardiovascular market. TRV027 has the potential to be a significant new advance in the treatment of ADHF because it addresses the underlying pathophysiology of the disease which has been demonstrated in preclinical and early clinical work by Trevena," said David Solomon, Forest's senior vice president of corporate development and strategic planning.
"Forest Labs brings a wealth of drug development and commercialization experience to the TRV027 program," said Maxine Gowen, Trevena's president and chief executive officer. "This collaboration provides us with an opportunity to maximize the potential of this promising compound, and further validates our biased ligand approach to GPCR drug discovery."