Albireo to Receive More than $55 Million in Nondilutive Cash Payments

Albireo Pharma (Nasdaq:ALBO), a clinical-stage orphan pediatric liver disease company developing novel bile acid modulators, today announced that Japan’s Ministry of Health, Labor and Welfare has approved the new drug application for elobixibat for the treatment of chronic constipation in Japan.
As quoted in the press release:

“The approval of elobixibat in Japan marks the first approval of an IBAT inhibitor anywhere in the world and provides additional validation of the innovative science on which Albireo was founded and of the promise for patients offered by bile acid modulation,” said Ron Cooper, President and Chief Executive Officer of Albireo. “Albireo’s lead product candidate, A4250, is also an IBAT inhibitor, and we expect to initiate a planned Phase 3 study of A4250 for the treatment of patients with progressive familial intrahepatic cholestasis (PFIC) by the spring of this year.”

Click here to read the full press release.