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.
Pharmaceutical research company Pharmaxis Ltd (ASX: PXS) has received a R&D tax incentive of $5,048,452 in relation to the 2020 financial year. The receipt of this incentive adds to the Company’s cash funds, which were $15 million at 30 June 2020.
Pharmaxis CEO Gary Phillips said, “The R&D tax incentive is a significant source of non-dilutive funding for the Company’s development of new drugs, providing a 43.5% cash payment in relation to eligible research expenditure. Pharmaxis’ current drug development focus is the commencement of a phase 1/2 clinical trial of its pan-LOX inhibitor PXS-5505 in myelofibrosis which was recently given permission to proceed by the US Food and Drug Administration (FDA) under its Investigational New Drug program. PXS-5055 has also been granted orphan drug designation by the FDA for the treatment of myelofibrosis.”Read full media release - pdf
- BI 1467335 was acquired from Pharmaxis in 2015 as part of Boehringer Ingelheim’s growing Retinal Health R&D pipeline portfolio.
- Boehringer Ingelheim has terminated the agreement with Pharmaxis with 90 days’ notice during which time Pharmaxis can request return of all existing data and intellectual property.
- Pharmaxis will continue its development of small molecule amine oxidase inhibitors with a phase 2 study in myelofibrosis due to commence later this year.
- Boehringer Ingelheim will continue to advance its comprehensive portfolio of next generation retinal therapy approaches.
Boehringer Ingelheim and Pharmaxis Ltd today announced the discontinuation of the development of anti-inflammatory AOC3 inhibitor BI 1467335 for the treatment of patients with moderate-severe non-proliferative diabetic retinopathy (NPDR). BI 1467335 was acquired from Pharmaxis in 2015 and Boehringer Ingelheim will now terminate the agreement.
In a Phase IIa trial in patients with moderate-severe NPDR, BI 1467335 met its primary endpoint in ocular safety with the treatment being well tolerated. Boehringer Ingelheim decided not to further develop BI 1467335 in this indication based on the lack of a clear efficacy signal and risk of dose dependent drug interactions of the compound in NPDR patients identified in another Phase I study.
Pharmaxis CEO, Gary Phillips said, “We understand Boehringer Ingelheim’s decision to stop development of BI 1467335 in NPDR based on the risk of dose dependent drug interactions at the dose level that was tested in the Phase IIa trial. Based on recent publications AOC3 remains an important clinical target. We will review the data collected in more detail to evaluate potential opportunities in other indications that already have supportive pre-clinical data and where the risk of drug interactions are of less concern. In the meantime, we look forward to the upcoming FDA decision on granting a marketing authorisation for Bronchitol in the US cystic fibrosis market and our focus remains on advancing our anti-cancer pan-LOX inhibitor program into a phase 2 myelofibrosis study following the recent IND approval.”Read full media release - pdf
Pharmaxis Awarded $1m Australian Government Funding to Progress Duchenne Muscular Dystrophy Drug into the Clinic
Pharmaceutical research company Pharmaxis Ltd today announced it has been awarded $1 million funding from the Biomedical Translation Bridge (BTB) program to significantly advance work on the company’s drug discovery for the treatment of the devastating genetic disorder Duchenne Muscular Dystrophy (DMD).
Pharmaxis was selected following a highly competitive review conducted by an independent expert evaluation committee as part of the BTB program, which is administered by MTPConnect. The Australian government matched funding will allow the company to take another one of its pipeline of amine oxidase inhibitors (PXS-4699) through to the commencement of human clinical trials. A planned comprehensive program of pre-clinical studies will build on the pioneering work already conducted on Pharmaxis compounds by independent international researchers focused on Duchenne Muscular Dystrophy. PXS-4699 is a dual amine oxidase inhibitor which is expected to protect muscle and reduce inflammation as well as organ fibrosis in DMD. It is hoped this could result in better daily functioning for patients, improved quality of life and longer life expectancy.Read full media release - pdf