Cipla signs over Rs 152 crore pact with Pulmatrix for new asthma drug Pulmazole

The agreement has been signed between the company's wholly-owned subsidiary in the US, Cipla Technologies LLC with Pulmatrix Inc for investment in phase 2 ready Pulmazole (inhaled itraconazole).

New Delhi: Domestic pharma major Cipla Monday said it has signed a binding agreement with Pulmatrix Inc for co-development and licensing opportunity for a new drug under development for upfront consideration of USD 22 million.

The agreement has been signed between the company's wholly-owned subsidiary in the US, Cipla Technologies LLC with Pulmatrix Inc for investment in phase 2 ready Pulmazole (inhaled itraconazole).

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Pulmazole is an inhaled anti-fungal formulation of itraconazole aimed at treating allergic bronchopulmonary aspergillosis (ABPA) in asthma patients.

The company said, "Entry into a definitive agreement is contingent upon Pulmatrix raising additional funds from the market".

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Upon signing the definitive agreement, the co-development cost towards development and the total free cash flow in relation to the commercialisation of Pulmazole will be further shared by both the parties in a phased manner, it added.