Trevena and Forest Laboratories have collaborated to develop TRV027, an AT1R biased-ligand for the treatment of acute heart failure.
TRV027 is an experimental intravenous drug being developed for the treatment of acute decompensated heart failure (ADHF), which completed Phase IIa trials earlier this year.
A 500-patient multi-centre Phase IIb trial in ADHF is expected to be initiated by Trevena by the end of 2013.
Forest corporate development and strategic planning SVP David Solomon said; "TRV-027 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 pre-clinical and early clinical work by Trevena."
The agreement includes a $30m equity investment by Forest, and gives the company the option to exclusively license TRV027 on a worldwide basis from Trevena after the completion of the planned Phase IIb trial.
A joint development committee will be established to oversee the development of TRV027, and Trevena holds operational authority during the option period.
After the option is exercised, Forest will make $430m future development and commercial milestone payments in addition to royalties, and will be responsible for the development and commercialisation of the product.
Trevena president and chief executive officer Maxine Gowen said; "This collaboration provides us with an opportunity to maximise the potential of this promising compound, and further validates our biased ligand approach to GPCR drug discovery."