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Print Edition StoriesTuesday, October 26, 2010
Infinity Pharma pain treatment finds marketing help from alliance
By Michelle Lang
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Development and commercialization of a treatment for inflammatory diseases developed by Infinity Pharmaceuticals Inc. is moving to Purdue Pharmaceutical Products LP and Mundipharma International Corp. Ltd., as part of an alliance formed by the companies in 2008.
Purdue and Mundipharma will exercise the rights to Infinity’s fatty acid amide hydrolase (FAAH) program, with plans for Purdue to begin Phase 2 studies next year of Infinity’s FAAH inhibitor, which is intended to better enable the body to respond favorably to anti-inflammatory treatment.
The 2008 alliance was set up as a research, development and commercialization effort focused mainly on Infinity’s anti-cancer drugs. Under the alliance terms, Infinity would retain discovery and development of its oncology drugs, with Mundipharma granted commercialization rights outside the U.S. and Purdue investing in Infinity, including a line of credit that Purdue can expect to be repaid with interest in 10 years. Infinity is positioned to receive up to $75 million from the alliance.
“Purdue is a world leader in the development and commercialization of therapeutics for the treatment of pain, and we are pleased that they will be advancing IPI-940 through later-stage clinical development and into the marketplace,” said Infinity president and CEO Adelene Q. Perkins, in a press release.
With the two companies having exercised their development and commercialization rights, Infinity has adjusted its year-end cash and investments to add $5 million to $10 million.
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