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GEN News Highlights : Jan 10, 2011

Celtic Therapeutics Acquires and Licenses Rights to Resolvyx’ RX-10045

Agreement will allow further development of Resolvin-based therapy.

Celtic Therapeutics has acquired and licensed worldwide rights to Resolvyx’s RX-10045, a late-stage program for the treatment of dry eye syndrome and other ophthalmic conditions. Terms of the deal include up-front consideration, near-term milestone payments, and funding for 100% of future development costs. Resolvyx and Celtic Therapeutics will share proceeds from the future divestiture of RX-10045, including up-front payments, royalties, or other revenues.

“This deal with Celtic Therapeutics will provide the necessary capital and clinical expertise to pursue our aggressive development plans for RX-10045 while allowing Resolvyx to share in the future success of this program,” says Greg Weinhoff, executive chairman. “Resolvyx can now dedicate its internal resources to developing the therapeutic potential of resolvins for non-ophthalmic diseases.”

RX-10045 is a synthetic resolvin analog formulated for topical application to treat eye disease. In pre-clinical models, RX-10045 has demonstrated potent efficacy in models of dry eye and neovascular retinopathy. It has completed a large Phase II trial in chronic dry eye. Resolvins have been shown to be highly potent and efficacious across a broad range of preclinical models of asthma, atherosclerosis, rheumatoid arthritis, inflammatory bowel disease, dry eye and retinal disease, among others, according to the company.

RX-10045 is scheduled to enter a Phase III randomized, placebo-controlled, multicenter study this year. As part of the agreement, Celtic Therapeutics may also license rights to and develop a second Resolvyx compound in a topical formulation for ophthalmic indications.