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news.EnzymeRx has raised $14 million from funds managed by Pequot Capital Management and has also acquired worldwide rights, excluding Taiwan, to uricase-PEG 20 from Polaris Pharmaceuticals, which will also hold an equity stake in EnzymeRx.
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Uricase-PEG 20 is a pegylated form of the enzyme uricase (urate oxidase) that has previously completed a single dose Phase I trial and is being developed for the treatment of refractory gout and tumor lysis syndrome. Plans for additional clinical studies, including a multi-dose Phase II study in refractory gout patients, are under way.
Tony Fiorino, president and CEO of EnzymeRx, said: “I believe that based on preliminary data, uricase-PEG 20 may prove to be a significant advancement over existing therapies and other products currently being developed to treat refractory gout. We are eager to get our Phase II program under way to better characterize the profile of uricase-PEG 20 and to pave the way for pivotal Phase III trials.”