Pharmaxis Earns A$15 Million Milestone Payment as Boehringer Ingelheim Clinical Trial in Diabetic Retinopathy Doses 1st Patient
Release Date: 11/01/2018 8:35am
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."
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