FURX, Furiex Pharmaceuticals, Inc.

Furiex Pharmaceuticals, Inc. (Nasdaq:FURX) announced that it has acquired full exclusive license rights to develop and commercialize the compound MuDelta under its existing development and license agreement with Janssen Pharmaceutica N.V. Furiex acquired these rights as a result of Janssen’s decision, after an evaluation of strategic fit within its late stage portfolio, not to exercise its option under the agreement to continue development of MuDelta. Furiex will owe payments to Janssen based on Phase III trial initiation, future regulatory milestones and, if the product is approved, sales milestones and royalties.

MuDelta is a novel dual opioid receptor modulator that was designed for the treatment of diarrheal and pain symptoms of diarrhea-predominant irritable bowel syndrome, or IBS-D, without causing the constipating or sedating side effects that occur with mu opioid receptor agonists. Furiex recently completed a Phase II study establishing tolerability, safety and efficacy in patients with IBS-D and intends to progress development of MuDelta. The study achieved statistically and clinically significant results for the primary as well as a number of key secondary endpoints and demonstrated durable efficacy through the 12-week treatment period.

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