US-based firm Purdue Pharma has gained full worldwide development and commercial rights to VM Pharma’s VM-902A, a first-in-class, orally bioavailable, peripherally acting and allosteric selective tropomyosin receptor kinase A (TrkA) inhibitor.

As part of the $213m acquisition, Purdue has also secured rights to backup compounds and associated intellectual property for the potential treatment of chronic pain.

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The total acquisition amount includes an upfront payment, development, regulatory and commercial milestone payments, as well as royalties on potential sales of VM-902A.

"The TrKA mechanism and VM-902A specifically hold great promise in treating pain."

TrkA is the high-affinity receptor of nerve growth factor (NGF) and belongs to a family of signalling proteins known as tyrosine receptor kinases, which activate when selectively inhibited to provide a new therapeutic approach to address pain symptoms.

VM-902A compound has an unprecedented mechanism of action that is expected to offer strong, targeted efficacy for pain.

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Purdue Pharma president and chief executive officer Mark Timney said: "The TrKA mechanism and VM-902A specifically hold great promise in treating pain.

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"This acquisition expands and diversifies our pipeline by adding a potentially innovative non-opioid, non-NSAID treatment to our portfolio."

Purdue Pharma is planning to start enrolment in Phase II clinical trial of VM-902A in early 2016. Phase I trials of VM-902A were successfully completed in 72 human subjects in single and multiple ascending dose trials.

Oppenheimer & Co acted as exclusive financial advisor and Cooley acted as legal counsel to VM Pharma, while Chadbourne & Parke was the lead outside counsel for Purdue.