News

For the latest media releases and news about Pharmaxis Ltd, please select from the following articles. Material news announcements made by Pharmaxis are first filed with the Australian Securities Exchange (ASX) and are also available on the ASX website.

6th Aug 18

Pharmaxis Announces A$24m Placement

Highlights:

  • A$24.0m being raised in a two tranche placement to global sector specialist and institutional investors
  • A$54m pro-forma cash balance post raising. Strengthened balance sheet to assist with LOXL2 partnering negotiations expected in 2H18 Issue price of A$0.325 represents a 3.1% premium to last closing price
  • Arix Bioscience plc invests A$14.2m for a 11% holding in the Company
  • Existing shareholder BVF Partners LP invests A$7.1m to increase its holding to 22.9%
  • Arix Investment Director Edward Rayner to be nominated to join the Pharmaxis Board
Read full media release - pdf
14th Jun 18

Pharmaxis "Best in Class" LOXL2 Program Attracts Strong Pharma Interest as it Enters Final Stages of Phase 1 Trials

Pharmaceutical research company Pharmaxis (ASX: PXS) has briefed potential partners attending the BIO18 partnering conference in Boston on data emerging from the phase 1 clinical studies of its anti-fibrotic LOXL2 inhibitor program which have demonstrated a best in class profile.

  • First stage of phase 1 studies demonstrate a best in class profile for lysyl oxidase like 2 (LOXL2) inhibitors with two compounds achieving significant and long lasting inhibition of LOXL2 enzyme after a single oral dose.
  • Final stages of phase 1 studies and phase 2 enabling toxicity studies are due to complete in Q3 2018.
  • Pharmaxis conducts multiple partnering discussions with multinational Pharma companies at BIO 2018.

Pharmaxis CEO Gary Phillips said, “The data package being reviewed by several multinational pharmaceutical companies under confidentiality agreements is now maturing rapidly as we see the final data being generated by ongoing pre-clinical and clinical studies. There are a number of key features which have contributed to an increase in the already strong interest amongst these companies. As research into predictive in vivo animal models for anti-fibrotic diseases such as NASH and IPF and their biomarkers continue, our newly developed proprietary test to measure the levels of active LOXL2 in human blood has shown we have a best in class LOXL2 inhibitor. Other LOXL2 drug programs have either shown no enzyme inhibition in humans at all or only short-lived inhibition, however both our drugs deliver high levels of inhibition for a full 24 hours from a single daily dose. This finding plus the reassuring safety profile in Phase 1 trials and toxicity studies are key to the overall positive engagement with Pharma that we expect will lead to commercial partnering discussions later this year.”

Read full media release - pdf
11th Jan 18

Pharmaxis Earns A$15 Million Milestone Payment as Boehringer Ingelheim Clinical Trial in Diabetic Retinopathy Doses 1st Patient

Pharmaceutical research company Pharmaxis Ltd (ASX: PXS) today announced dosing of the first patient in Boehringer Ingelheim’s Phase 2a clinical trial in patients with diabetic retinopathy (DR), triggering a €10 million (~A$15 million) milestone payment to Pharmaxis. DR is the second disease to be targeted with BI 1467335 originally discovered by Pharmaxis. BI 1467335 is also in an ongoing Phase 2a clinical trial for non-alcoholic steatohepatitis (NASH).

Gary Phillips, Pharmaxis CEO said, “This milestone payment marks the expansion of the Boehringer Ingelheim development plan for BI 1467335 into two diseases, where all the potential development milestones in the deal (~A$625m), would be payable to Pharmaxis should both indications be approved."

Read full media release - pdf