- Cipla Technologies LLC and Pulmatrix Inc signed a definitive agreement over co-development and commercialization of Pulmazole.
- The partnership will be supervised by a joint steering committee having equal representation from the two companies.
Pharmaceutical giant Cipla has reportedly inked an agreement with Pulmatrix Inc to collectively develop a formulation that will treat allergic bronchopulmonary aspergillosis in asthma patients.
The company’s subsidiary Cipla Technologies LLC and Pulmatrix Inc have signed definitive agreement over the co-development and commercialization of Pulmazole, the Mumbai-based company stated in a regulatory filing. Pulmazole is an inhaled iSPERSE formulation of itraconazole, an antifungal drug, used for the treatment of ABPA in asthma patients, it added.
Under the agreement, Pulmatrix will attain an upfront payment from Cipla Technologies worth $22 million in exchange for all the rights for Pulmazole pertaining to pulmonary symptoms.
Reportedly, both the companies will equally share costs associated with Pulmazole’s future development and commercialization, and similarly, share global free cash flow from future sales of Pulmazole.
Pulmatrix will chiefly focus on the clinical development of Pulmazole, while Cipla Technologies will look after the commercialization of the product, revealed the statement.
Meanwhile, the partnership will be supervised by a joint steering committee that has equal representation from both the parties, it added.
Umang Vohra, MD and Global CEO of Cipla, said in a statement
that Pulmazole will be the company’s entry into the branded respiratory
vertical and will suffice a vital unfulfilled medical need for the treatment of
ABPA, an illness that is estimated to impact more than 2 million patients globally
but still has no labeled drug.
Robert W. Clarke, CEO of Pulmatrix, was quoted
saying that Cipla’s proficiency in development and manufacturing of respiratory
drugs reinforcesthe firm’s development program, whereas its experience in global
commercialization and footprint will help the firm introduce this novel
therapeutic option to ABPA patients.