13th Aug 2014 15:27
LONDON (Alliance News) - Skyepharma PLC Wednesday said it has acquired a novel inhaled therapy platform from Pulmagen Therapeutics Synergy Ltd.
In a statement, the specialist in oral and inhaled drugs said it has acquired the global rights and related intellectual property, including granted patents and patent applications, to a novel inhaled therapy platform, which it will develop into a new product for chronic obstructive pulmonary disease.
"If successful, SKP-2075 could offer COPD patients an important new treatment option and Skyepharma with a patented therapy platform from which to develop further products," said Chief Executive Officer Peter Grant in a statement.
Skyepharma said that once it has completed a phase II efficacy and safety trial, it will then seek to out-licence SKP-2075 to a pharmaceutical partner for late-stage development and commercialisation.
It said that Pulmagen will receive a share of Skyepharma's potential future revenues and launch milestones, from the successful exploitation of the platform.
"Following our recent capital raise we set out how our stronger balance sheet will enable us to leverage our capabilities for both inhaled product development and oral drug delivery, and this project is an excellent example of our ability to drive our next phase of growth," said Grant/
Skyepharma shares were trading 0.9% lower before the market close Wednesday, at 239.25 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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