Boehringer Ingelheim buys Pharmaxis' Phase 1 Anti-inflammatory Drug Candidate
Monday, May 18, 2015
Boehringer Ingelheim and pharmaceutical company Pharmaxis announced that Boehringer Ingelheim has exercised its option and acquired the investigational drug PXS4728A, to develop it for the treatment of the liver-related condition NASH and to prevent its consequences.
PXS4728A is a Semicarbazide-Sensitive Amine Oxidase/Vascular Adhesion Protein-1 (SSAO/VAP-1) Inhibitor discovered by Pharmaxis that works by blocking leucocyte adhesion and tissue infiltration in inflammatory processes.
Pharmaxis has developed it through to phase 1 clinical studies, demonstrating oral bioavailability, long-lasting target inhibition and good tolerability and safety.
NASH is the progressive form of non-alcoholic fatty liver disease or NAFLD, the most common liver disorder in Western industrialized nations. It is regarded as a major cause of fibrosis and cirrhosis of the liver and is an area of high unmet clinical need. The high prevalence of type 2 diabetes and obesity, which can lead to NASH and its long term consequences, is considered to make NASH one of the most common causes of advanced liver disorders in coming decades.
Pharmaxis will receive an upfront payment of 27.5 million euros or approximately A$39 million and, subject to the continuing successful development and commercialisation of the PXS4728A program, the following payments:
up to a total of EUR55 million in development milestone payments tied to the commencement of phase 2 and 3 clinical trials; up to a total of EUR140 million in regulatory milestone payments upon filing of applications for marketing approval and receipt of regulatory and pricing approvals for a PXS4728A program product in the major pharmaceutical markets (i.e., USA, EU, and China or Japan) for the first indication; additional milestone payments similar in total to those set forth above upon achievement of the same development and regulatory milestone events by a PXS4728A program product for a second indication; earn-out payments on annual net sales of PXS4728A program products at tiered percentages starting in the high single digits; commercialisation milestone payments upon achievement of specified levels of annual net sales of PXS4728A program products.
Boehringer will be responsible for all development, regulatory, manufacturing and commercialisation activities. Under the agreement, Boehringer has also acquired other SSAO/VAP-1 inhibitor molecules related to PXS4728A and associated patents.
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