Mundipharma International has extended its strategic alliance with US-based Infinity Pharmaceuticals on Tuesday, committing a further $50m towards the development of Infinity’s IPI-145 oral inhibitor, to be invested in 2013.
Infinity initially entered into the alliance with Gemany-based Mundipharma and the US-based Purdue Pharma in 2008 to develop a previous inhibitor. As part of the deal, Mundipharma and Purdue extended a $50m line of credit to Infinity, repayable from 2019, of which Infinity has drawn the full amount.
The IPI-145, which targets cancer, inflammatory and autoimmune diseases, is currently undergoing two Phase 1 clinical trials, with data and further clinical events expected next year.
The IPI-145 is a product of another strategic alliance, inked with molecular drug developer Intellikine in 2010, for which Infinity paid $13.5m upfront with the deal potentially reaching $488m if all milestones are passed. As part of the deal Infinity made a $4m milestone payment to Intellikine at the end of October.
Antony Mattessich, regional director of Europe for Mundipharma, said: "Since our alliance began in 2008, Infinity has advanced and expanded its portfolio of innovative product candidates. Infinity’s productivity and track record in achieving its development objectives make the company an ideal partner, and we look forward to an ongoing collaboration which we hope will yield multiple best-in-class treatments that address significant unmet medical needs."
Apart from the IPI-145, Infinity is advancing a research program to identify further inhibitors for future development. Mundipharma will fund any new Infinity discovery programs launched before the end of 2013 up to the start of Phase 3 clinical trials, in return for non-US commercial rights.