Antriabio in Louisville changes name to Rezolute Inc.

.LOUISVILLE — Antriabio (OTC: ANTB), a clinical-stage biopharmaceutical company, has changed its name to Rezolute Inc.

The company specializes in developing drug therapies for metabolic and orphan diseases, that is, diseases that are rare or prevalent in developing countries and have few pharmaceutical treatments.

Rezolute has entered into a license agreement with Xoma Corp. (Nasdaq: XOMA), that provides Rezolute exclusive global rights to develop and commercialize RZ358, formerly called XOMA 358, to treat Congenital Hyperinsulinism.

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Xoma is a company that develops therapeutic antibodies.

RZ358 is an antibody that counteracts the effects of elevated insulin by modulating the insulin receptor, making it an ideal therapy for persistent hypoglycemia caused by Congenital Hyperinsulinism. Xoma developed the proof-of-concept through Phase 2 studies. Rezolute plans to advanced clinical development in 2018.

Under the agreement, Rezolute will be responsible for the global development, regulatory filings, manufacturing and commercialization of RZ358. Xoma will receive a total of $18 million in cash and shares of Rezolute common stock and will be able to receive up to $222 million in clinical, regulator and sales milestones. Xoma is also entitled to royalties based on annual net sales as well as some royalties on the company’s other products.

“We are excited about the addition of RZ358 to our growing product pipeline and for the opportunity to take a Phase 2 program forward with the hope of being able to offer a significantly better treatment option for a disease that is the most frequent cause of severe, persistent hypoglycemia in newborn babies and children,” Nevan Elam, chairman and chief executive officer of Rezolute, said in a prepared statement. “Xoma has generated compelling safety data and proof-of-concept for RZ358 and we look forward to advancing its development.”

Congenital Hyperinsulinism is a rare genetic disorder that affects one in 50,000 newborns.

In addition, the company’s name change is meant to reflect its transition to developing therapies for diseases with high unmet medical needs.

“The name change conveys our dedication to identifying and developing therapies that are transformative and target well-known genetic pathways and mechanisms,” Elam said.