Altus Pharma Regains Development, Commercialization Rights For Human Growth Hormone Formulation From Genentech [ALTU]

12/20/2007 1:25:08 AM Altus Pharmaceuticals Inc. (ALTU) announced on Wednesday that it reacquired development and commercialization rights for ALTU-238, a human growth hormone formulation, in North America from Genentech, Inc. (DNA).

The company said that ALTU-238 is a subcutaneously administered, once-per-week formulation of human growth hormone, which makes use of Altus' proprietary protein crystallization and formulation technology, for patients with growth hormone deficiencies. The exclusive option given to Genentech for ALTU-238 development and commercialization outside North America has also expired, Altus added.

As per the terms of the revised agreement, Cambridge, Massachusetts-based Altus would regain control of its ALTU-238 assets and Genentech has agreed to provide, for a limited time, supplies of human growth hormone for future clinical development. Additionally, Genentech, a manufacturer of biotherapeutics, would also provide Altus funds to support the transition of the program. After commercialization, Genentech would be entitled to a nominal royalty on the sales of ALTU-238, Altus said.

Commenting on the ALTU-238 program, Sheldon Berkle, president and chief executive officer, Altus said, “We continue to believe ALTU-238 can provide significant patient benefit with better dosing as a potential once-per-week treatment for growth hormone disorders.”

“As a unified global program, we also believe significant strategic partnering opportunities exist for ALTU-238,” he added.

Berkle said the company plans to resume clinical trials by mid-2008 and would provide additional details regarding the clinical development plan to investors during the first quarter.

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