Looks like you’re on the UK site. Choose another location to see content specific to your location

Home Industry News Lilly to provide funding support for Ixchelsis

Lilly to provide funding support for Ixchelsis

12th August 2013

Lilly is to provide funding support for Ixchelsis, a start-up company formed by former Pfizer scientists at the Discovery Park site in Sandwich.

The company will be providing Ixchelsis with financial backing to aid the creation of an innovative therapy for premature ejaculation based around the oxytocin receptor antagonist IX-01, which has the potential to be a best-in-class treatment for this condition, reports PharmaTimes.

Ixchelsis will collaborate with Chorus, the autonomous early phase virtual drug discovery arm of Lilly, with the joint research project to be financed with a funding commitment of around $14 million (9.04 million pounds).

If the proof-of-concept results are positive, Lilly may have the opportunity to purchase the molecule. 

Dr Gary Muirhead, head of Ixchelsis, also gave thanks to former employer Pfizer for providing "continual business development, legal and venture capital advice and guidance to Ixchelsis over the past two years that we have been seeking funding".

Lilly is also responsible for marketing the erectile dysfunction drug Cialis, for which it reported positive data from a recent clinical trial last month.ADNFCR-8000103-ID-801623605-ADNFCR

We currently have 6 jobs available in Pharmacy industry, find your perfect one now.

Stay informed

Receive the latest industry news, Tips
and straight to your inbox.