Inex co-development deal with Enzon terminated

A development and commercialization agreement between Inex Pharmaceuticals Corp, Vancouver, and Enzon Pharmaceuticals Inc, Bridgewater NJ, has been terminated following the decision of the FDA to issue a “not approvable” letter for Inex’s leading anti-cancer drug, Marqibo. Inex received a final $5-million payment from Enzon and is seeking new investment. The collaboration with Enzon lasted little more than one year (R$, January 28/04) and its termination closely follows a dramatic downsizing of Inex’s workforce to reduce its burn rate (R$, December 21/04)….