Thursday, December 11, 2008

Infinity Pharmaceuticals reclaims rights to cancer protein inhibitors

By Mass High Tech staff

Oncology-focused Infinity Pharmaceuticals Inc. has reacquired all worldwide rights, formerly held jointly with MedImmune Inc., to develop and commercialize its heat shock protein (Hsp90) inhibitor program, which includes IPI-504 for injection and IPI-493 taken orally.

The full rights now position the company to speed the time-to-market for its Hsp90 inhibitors, according to company officials. The joint development agreement with Maryland-based MedImmune was announced in August 2006.

Infinity’s inhibitors work by blocking the Hsp90 cellular chaperone, which has been found to be a source of cancer cell growth.

The company’s IPI-504 is currently in Phase 3 registration trials for patients with refractory gastrointestinal stromal tumors. It also has been addressed in Phase 2 clinical trials  for patients with advanced non-small cell lung cancer.

IPI-493 was developed as an oral inhibitor for patients with advanced solid tumors.

Infinity was founded in 2001. In September 2006, the company completed its acquisition of Discovery Partners International Inc., a publicly traded company based in San Diego. Following that deal, reportedly worth about $100 million, Infinity became publicly traded.

Infinity Pharmaceuticals reported a net loss last quarter of $12.4 million on total revenue of $2.5 million.