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news.CombinatoRx, a company that develops novel drug candidates with a focus on the treatment of pain and inflammation, has got a milestone payment from Fovea Pharmaceuticals, a division of Sanofi Aventis, relating to Fovea Pharma’s initiation of Phase 2b clinical testing of Prednisporin (FOV1101) in subjects with persistent allergic conjunctivitis.
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Prednisporin is a CombinatoRx-derived combination drug candidate that was exclusively licensed to Fovea by CombinatoRx.
CombinatoRx said that in addition to this $500,000 milestone, it will be eligible to receive further development and regulatory based milestone payments for Prednisporin of up to approximately $40m and if commercialised, tiered royalty payments of up to 12% of net sales.
Mark Corrigan, president and CEO of CombinatoRx, said: “The advancement of Prednisporin into Phase 2b clinical development demonstrates another successful translation of the CombinatoRx combination High Throughput Screening (cHTS) platform from screening to human clinical development.”