ROYALTY MONETIZATION$60 MILLION
JUN 2020 / DEC 2017
GOOFICE® (elobixibat) is a first-in-class product candidate to treat chronic idiopathic constipation. The product is an inhibitor of the ileal bile acid transporter (IBAT) in the terminal ileum to increase secretion and motility in the large bowel without negatively affecting important functions in the small intestine. GOOFICE® was approved in Japan in January 2018 and is marketed by EA Pharma.
In December 2017, Albireo Pharma sought to monetize a portion of its future GOOFICE® royalties in Japan in order to provide non-dilutive capital to fund the development of its lead product candidate A4250, an IBAT inhibitor in late-stage development for an orphan liver indication. In June 2020, Albireo sought to raise additional non-dilutive capital to fund its pipeline and the parties were able to complete a $15 million follow-on investment.
Note: This transaction also appears in the Royalty Monetization section under GOOFICE.