Pharmaxis is a pharmaceutical research company with approved products in the market and a drug discovery team working on a pipeline of new medicines to treat inflammation and fibrosis.
In May 2015 Pharmaxis demonstrated the value of this product pipeline with the announcement of the sale of phase 1 drug BI 1467335 (formerly known as PXS-4728A) to pharmaceutical company Boehringer Ingelheim for A$40 million in up-front payments and total potential deal value in excess of A$750 million. BI 1467335 is being developed for the liver condition NASH where innovative approaches to treatments are being sought and also for diabetic retinopathy, a leading cause of blindness.
Separately, Pharmaxis is working towards approval of its cystic fibrosis drug Bronchitol in the United States and has partnered with Chiesi Farmaceutici SpA to reduce overall investment while retaining a key stake in the future commercial success of Bronchitol in global markets.
In order to manage risk and maximise the number of new drugs developed from the Company’s established amine oxidase chemistry platform Pharmaxis has a LOXL2 research collaboration with UK biotech company Synairgen. In December 2017 the collaboration was amended to facilitate the commercialisation of the program. Read more.
Pharmaxis’ business strategy is to bring drug candidates to phase 1 or phase 2 of clinical development before seeking a commercial partner. The timing of partnerships is determined on a project by project basis. Further details of the Pharmaxis product pipeline are available here.