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Synairgen revises collaboration with Pharmaxis

By BFN News | 09:59 AM | Thursday 14 December, 2017


Synairgen, the respiratory drug discovery and development company, has revised its collaboration agreement with Pharmaxis following the completion of preclinical studies and the commencement of the Phase I clinical trial with its LOXL2 inhibitor programme. Under the revised terms, Pharmaxis will take on full operational responsibilities for the programme, including the ongoing Phase I trial of the LOXL2 inhibitor PXS-5382. As a result of the combined work in the collaboration, Pharmaxis is concurrently developing a second LOXL2 inhibitor PXS-5338 (also in Phase I) which will expand partnering opportunities across multiple fibrotic conditions. The revised agreement fixes Synairgen's interest across all fibrotic indications at around 17% of all partnering proceeds. Synairgen will have no further obligations to finance the development of the programme candidates, but will continue to provide technical support for the licensing process. Pharmaxis will pay Synairgen £5 million cash in consideration for the revised terms. At 9:59am: (LON:SNG) Synairgen PLC share price was +4.38p at 15.38p Story provided by StockMarketWire.com

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