Boehringer Ingelheim acquires drug candidate from Pharmaxis

Boehringer Ingelheim has announced the acquisition of an investigational drug candidate from Pharmaxis, based on its promising performance in early studies.

The company has exercised its option to acquire the anti-inflammatory drug candidate PXS4728A to develop it for the treatment of the liver-related condition nonalcoholic steatohepatitis and to prevent its consequences.

PXS4728A works by blocking leucocyte adhesion and tissue infiltration in inflammatory processes. It has been developed through to phase I clinical testing and has demonstrated oral bioavailability, long-lasting target inhibition and good tolerability and safety.

Pharmaxis will receive an upfront payment of 27.5 million euros (19.99 million pounds) and addition milestone-based fees subject to the drug's continuing successful development and commercialisation.

Glyn Parkin, corporate senior vice-president and metabolism head at Boehringer Ingelheim, said: "We will continue to build our portfolio through both internal and external innovation so that we are able to bring much needed medications to the patients we serve."

This comes after the firm allied with Hydra Biosciences last month on a collaboration centred on renal diseases and disorders.