Neurocrine Biosciences Inc (NBIX)

[surf1944]

Neurocrine Biosciences Announces the Start of Phase II Study of Elagolix in Uterine Fibroids
RECEIVES MILESTONE PAYMENT OF $10 MILLION UNDER ABBOTT COLLABORATION AGREEMENT

Press Release Source: Neurocrine Biosciences, Inc. On Tuesday September 13, 2011, 8:30 am

SAN DIEGO, Sept. 13, 2011 /PRNewswire/ -- Neurocrine Biosciences, Inc. (NASDAQ:NBIX - News) today announced that Abbott has started a Phase II clinical trial to evaluate elagolix, a next-generation Gonadotropin Releasing Hormone (GnRH) Receptor Antagonist, in the treatment of uterine fibroids. The initiation of this trial triggered a $10 million milestone payment from Abbott to the Company.

"We are pleased that our collaboration has reached this important milestone with elagolix now being evaluated in a clinical setting for use in treating uterine fibroids," said Kevin C. Gorman, President and Chief Executive Officer of Neurocrine Biosciences. "This is evidence of the clinical momentum for elagolix which is moving forward in endometriosis and now uterine fibroids. We look forward to a continued successful collaboration with Abbott."

Uterine fibroids are benign tumors that form in the wall of the uterus. They are the most common type of growth found in a woman's pelvis and are most common in women aged 30–50 years. While many women do not have symptoms, depending on the size, location and number, uterine fibroids can cause heavy menstrual bleeding, can put pressure on the bladder and rectum, and can cause pain and nausea. Symptoms can also include miscarriage and infertility. Depending on the symptoms, treatment sometimes requires surgery, including the total removal of the uterus.