Elobixibat is, like A4250, a potent and selective IBAT inhibitor that acts locally in the gut and is excreted substantially intact, resulting in a reduced risk of systemic side effects and undesirable drug-drug interactions.  Elobixibat acts to increase bile acid levels in the colon by inhibiting reabsorption of bile acids from the small intestine to the liver.  We have granted commercial rights to elobixibat for the treatment of chronic constipation and other gastrointestinal diseases in Japan and other select markets in Asia to EA Pharma Co., Ltd. (formerly known as Ajinomoto Pharmaceuticals Co., Ltd.), a company formed by a business combination between Ajinomoto Pharmaceuticals and the GI treatment business of Eisai Co., Ltd.

In October 2016, we announced positive results from a Phase 3 clinical trial of elobixibat as at treatment for chronic constipation conducted by EA Pharma in Japan.  Subsequently, in February 2017, we announced that EA Pharma submitted a new drug application for marketing approval for elobixibat in Japan.  If elobixibat receives marketing approval in Japan, EA Pharma plans to co-market elobixibat in Japan with Mochida Pharmaceutical Co., Ltd.

We have commercial rights to elobixibat in the United States, Europe and otherwise outside of the territories licensed to EA Pharma.

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