Reuters: Hot Stocks: ChemoCentryx says partner GSK returns rights to bowel disease drug

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ChemoCentryx says partner GSK returns rights to bowel disease drug Sep 18th 2013, 13:43 Sept 18 | Wed Sep 18, 2013 9:43am EDT Sept 18 (Reuters) - ChemoCentryx Inc said partner GlaxoSmithKline Plc returned the rights to its inflammatory bowel disease drug, the company's lead product candidate. ChemoCentryx shares fell 4 percent in early trading on the Nasdaq. The drug, vercirnon, was being tested by GSK in four late-stage trials to treat Crohn's disease, a bowel disorder that causes abdominal pain and severe diarrhea. ChemoCentryx said data from all trials of the drug, also known as Traficet-EN and CCX282, will be returned. The company will use the data to assess, potentially with a partner, if the drug maintains remission in Crohn's disease, Chief Executive Thomas Schall said in a statement. Vercirnon failed in one of GSK's late-stage trials, results of which were reported in August. GSK said that new recruitment and dosing in the trial had been suspended while the results were being reviewed. ChemoCentryx entered into an agreement with GSK in 2006 for four experimental drugs, allowing GSK the option to exclusively license them if they were successful in early trials. The companies decided in February last year not to go ahead with the development of one of them. GSK will continue to develop two of the other drugs, one for the treatment of rheumatoid arthritis and another for a type of autoimmune swelling, ChemoCentryx said. ChemoCentryx shares were down at $6.15 on Wednesday morning. (Reporting by Vrinda Manocha in Bangalore; Editing by Kirti Pandey) Link this Share this Digg this Email Reprints

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