Epix Gives Up GPCR Candidate To GSK For $5.5M
This article was originally published in The Pink Sheet Daily
Executive Summary
PRX-03140 for Alzheimer's is on track for second Phase IIb study this month, CEO tells "The Pink Sheet" DAILY.
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Epix's partnership with GlaxoSmithKline has taken another big step forward with the identification of a third G-protein coupled receptor candidate, worth a $5.5 million milestone payment. Lexington, Mass.-based Epix Pharmaceuticals was charged with discovering and optimizing three new GPCR compounds as well as pushing the Alzheimer's candidate PRX-03140 through proof-of-concept stages, per a 2006 deal with GlaxoSmithKline (1 (Also see "GSK Signs Deal With Epix For GPCR Candidates" - Pink Sheet, 12 Dec, 2006.)). The $5.5 million milestone payment includes $3 million for identifying the three new compounds and a $2.5 million bonus for overall progress in discovery programs. Due to confidentiality agreements with GSK, Epix said it cannot reveal any further details about the new compound. "Glaxo is excited we hit three out of three milestones in just under a year," said CEO Michael Kauffman in an interview. "Our next goal is to optimize hits into early development candidates." The partnership forged with London-based GSK's Center of Excellence for External Drug Discovery is worth up to $1.2 billion in milestone and royalty payments. Epix takes the compounds through proof-of-concept stages, which could mean a Phase IIa study or a Phase IIa followed by Phase IIb, depending on the data and the indication, with milestone payments and undisclosed cost-sharing throughout. Based on a review of Phase II data, Glaxo decides whether it wants to opt in, and if so, pays a milestone payment to Epix and takes the reins of development. The Alzheimer's disease candidate PRX-03140, a novel 5-HT4 partial agonist, moved into proof-of-concept Phase IIb testing as part of a combination treatment in May (2 (Also see "GSK/Epix Alzheimer’s Drug Starts Phase IIb" - Pink Sheet, 5 May, 2008.)). A second trial of PRX-03140 as a monotherapy is on track to start sometime this month, Kauffman confirmed to "The Pink Sheet" DAILY. It's possible that PRX-03140 will work synergistically with other Alzheimer's drugs in development separately by GSK, he said. -Emily Hayes ([email protected]) |