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GEN News Highlights : Jun 12, 2007

Immtech’s Pneumocystis Pneumonia Drug Licensed by Par in $147M Deal

Pafuramidine maleate is currently in a Phase III trial.

Immtech Pharmaceuticals granted Par Pharmaceutical an exclusive license to commercialize its treatment of pneumocystis pneumonia (PCP) in AIDS patients in the U.S. Pafuramidine maleate is the company’s lead oral drug. 

The companies may also collaborate on efforts to develop pafuramidine as a preventative therapy for patients at risk of developing PCP, including people living with HIV, cancer, and other immunosuppressive conditions.

According to the terms of the signed agreement, Immtech received an initial payment of $3 million from Par. An additional $29 million will be paid as pafuramidine advances through ongoing Phase III trials and U.S. regulatory review and approval. Immtech also will receive royalties as well as up to $115 million in sales-based milestones. Immtech retains the right to co-market pafuramidine in the U.S.