Inex strikes lucrative collaboration agreement

Burnaby BC-based Inex Pharmaceuticals Corp has entered a strategic partnership with Enzon Pharmaceuticals Inc, Bridgewater NJ, for the development and commercialization of its Onco TCS oncology drug. Inex will receive US$12 million up front and an additional US$20 million when it receives FDA approval for its rolling new drug application, expected this spring. Further milestone and sales bonus payments could total US$44 million. Onco TCS combines the off-patent drug vincristine and Inex’s drug delivery technology to provide prolonged blood circulation, tumor accumulation and extended drug release at the cancer site. The two firms will jointly share development costs related to marketing approvals, while Enzon will cover costs associated with commercialization activities. Inex will initially manufacture Onco TCS while the two firms explore the feasibility of transferring manufacturing operations to an Enzon facility in Indianapolis IN. The new deal coincides with Inex’s termination of a previous arrangement with Ireland’s Elan Corp, which receives a $3-million payment. …