Phosphagenics collaboration to develop psoriasis drug
Collaboration partner receives FDA approval for Phase 1 clinical trial
Phosphagenics Limited has entered into an agreement with a US private dermatology company to develop a prescription drug to treat psoriasis. The collaborator has received approval from the US Food and Drug Administration (FDA) for an Investigational New Drug (IND) application clearing the path to commence a Phase 1 clinical study in the US on the high value drug.
Phosphagenics has completed the formulation development of the new product that combines Phosphagenics’ TPM® platform delivery technology with a known anti-psoriasis drug. In vitro studies demonstrated that this new formulation delivered the drug five times more effectively than a formulation not using the company’s technology.
Under the terms of the agreement the dermatology company will pay for a Phase 1 clinical study in the US that will commence in the first half of this year. The study will evaluate the ability of Phosphagenics’ proprietary TPM® platform delivery technology to improve the delivery of the drug into the skin and increase product efficacy.
Phosphagenics has granted the dermatology company an option to license its technology for the anti-psoriasis drug which it may exercise after the completion of the Phase 1 study. If exercised, the dermatology company will conduct and pay for all clinical trials required to register the topical drug in the US. Additionally, it will pay Phosphagenics milestone and royalty payments.
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