Cipla, Pulmatrix reach agreement to develop Pulmazole
Cipla is entering the branded drug market space. Cipla has reached an agreement with Pulmatrix, a clinical stage biopharmaceutical company focused on developing novel inhaled therapeutics to serve unmet needs in respiratory disease, for the co-development and commercialization of Pulmazole (PUR1900) – an inhaled iSPERSE formulation of the anti-fungal drug itraconazole for the treatment of allergic bronchopulmonary aspergillosis, or ABPA in patients with asthma.
“Cipla's expertise in respiratory drug development and manufacturing strengthens our development program while its global commercialization experience and footprint will enable us to bring this novel therapeutic option to patients suffering from ABPA. This is also an important financial milestone for the company, securing adequate funds to complete the Pulmazole Phase 2 study, along with 50% commitment from Cip Tec for future Pulmazole development and commercialization costs while retaining worldwide rights to 50% of the free-cash-flow from future revenues," Pulmatrix CEO Robert Clarke said.
"Pulmazole will be Cipla's entry into the branded respiratory space and will serve a vital unmet medical need for the treatment of ABPA, a condition that possibly impacts over two million patients worldwide but has no labelled drug. Pulmatrix has a capable development team and a strong intellectual property estate through its iSPERSE delivery platform. This creates potential to expand the scope of this collaboration and extract synergies from Cipla's long-established in-house capability in the development of inhalation therapy solutions," Cipla managing director and global CEO Umang Vohra said.
“Cipla's expertise in respiratory drug development and manufacturing strengthens our development program while its global commercialization experience and footprint will enable us to bring this novel therapeutic option to patients suffering from ABPA. This is also an important financial milestone for the company, securing adequate funds to complete the Pulmazole Phase 2 study, along with 50% commitment from Cip Tec for future Pulmazole development and commercialization costs while retaining worldwide rights to 50% of the free-cash-flow from future revenues," Pulmatrix CEO Robert Clarke said.
"Pulmazole will be Cipla's entry into the branded respiratory space and will serve a vital unmet medical need for the treatment of ABPA, a condition that possibly impacts over two million patients worldwide but has no labelled drug. Pulmatrix has a capable development team and a strong intellectual property estate through its iSPERSE delivery platform. This creates potential to expand the scope of this collaboration and extract synergies from Cipla's long-established in-house capability in the development of inhalation therapy solutions," Cipla managing director and global CEO Umang Vohra said.