Ghrelin Agonism

Elixir is pursuing the development of a small molecule ghrelin agonist. Animal studies have shown ghrelin agonists stimulate food intake and increase gastric motility.

The Company believes its ghrelin agonist product candidate will have clinical utility across a broad range of indications, including opioid-induced bowel dysfunction (OBD) and cancer cachexia, a condition of malnourishment and wasting of body tissues. Rather than initiate its own chemistry effort, Elixir elected to jump start its program by in-licensing a ghrelin agonist compound, as well as several back-up compounds from Bristol-Myers Squibb (BMS) in April 2005. The license agreement provides Elixir with the exclusive worldwide right to develop and commercialize BMS' lead ghrelin agonist product candidate and backup compounds for all therapeutic indications.

The lead ghrelin agonist has been the subject of extensive preclinical development, and Elixir has been able to capitalize on this progress with rapid initiation of IND-enabling studies. Subject to successful completion of these studies, the Company expects to begin human clinical testing with its lead ghrelin agonist product candidate in 2008.

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