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.”