The UK's largest drug maker, GlaxoSmithKline, has signed an agreement with Impax Pharmaceuticals for development and commercialisation rights to Impax's Parkinson's combination drug IPX066.
Impax says IPX066 has the potential to control Parkinson’s symptoms, such as the reduction in “off time” throughout the day.
Off time is the functional state when patients’ medication has worn off and there is a return of Parkinson symptoms.
The Parkinson's treatment currently is in late-phase clinical trials. The company expects to release study results next year and to file a new drug application with the U.S. Food and Drug Administration in late 2011.
The deal means that Impax will receive an initial payment of $11.5 million. The company is eligible to receive payments up to $175 million if the compound hits development and commercialisation milestones.
Impax will also receive tiered, double-digit royalty payments on GSK sales of IPX066.
Atul Pande, senior vice-president for the neurosciences medicines development centre at GlaxoSmithKline, said: "We look forward to collaborating with Impax and hope to deliver an improved treatment option to the millions of people living with this devastating disease."
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Impax says IPX066 has the potential to control Parkinson’s symptoms, such as the reduction in “off time” throughout the day.
Off time is the functional state when patients’ medication has worn off and there is a return of Parkinson symptoms.
The Parkinson's treatment currently is in late-phase clinical trials. The company expects to release study results next year and to file a new drug application with the U.S. Food and Drug Administration in late 2011.
The deal means that Impax will receive an initial payment of $11.5 million. The company is eligible to receive payments up to $175 million if the compound hits development and commercialisation milestones.
Impax will also receive tiered, double-digit royalty payments on GSK sales of IPX066.
Atul Pande, senior vice-president for the neurosciences medicines development centre at GlaxoSmithKline, said: "We look forward to collaborating with Impax and hope to deliver an improved treatment option to the millions of people living with this devastating disease."
For more news stories, read our articles Novartis to invest $500m in Russia, Parker Brothers Choppers unveils real-life Tron light-cycle and Smart wallets may prevent overspending this Christmas
