Inotek closes facilities, shakes up executive staff

There's a shakeup under way at Inotek. The Beverly, MA-based developer says it is closing several international sites and a pilot manufacturing facility in Israel as it focuses all of its efforts on its two main programs and two preclinical programs. Inotek's collaboration with Genentech regarding the discovery and development of PARP inhibitors will end in April. Inotek will obtain rights to all assets and information related to the PARP inhibitor program from Genentech, including all compounds and intellectual property that were discovered or developed by either Inotek or Genentech within the collaboration. And the shakeup is also causing changes in its executive group that includes the appointment of Dr. Michael Loberg, an Inotek board member since 2004, as acting president and CEO.

Inotek has entered Phase I with INO-4885 for various acute, peroxynitrite-mediated hospital conditions and has filed an IND for its selective Adenosine 1 agonist, INO-8875 that is being developed for Glaucoma. Inotek also has a monoclonal antibody program in preclinical development, targeting the flagellin/TLR5 pathway associated with inflammatory bowel disease and a series of preclinical PARP inhibitors with applications in cancer, ophthalmology and various diseases involving reperfusion injury.

- read the press release [1] for more information

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