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


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.


Source: PTI
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