Corgentech to merge with AlgoRx; focus on pain, inflammation

South San Francisco-based Corgentech is merging with AlgoRx Pharmaceuticals in a stock swap, jointly expanding a pipeline of new drugs that is focused on pain management and inflammation. The combined company will have four products in its pipeline. AlgoRx's portfolio of pain management drug candidates includes ALGRX 3268, which is in Phase III clinical trials; ALGRX 4975, which is in Phase II clinical trials; and ALGRX 1207, which is soon to enter the clinic. Corgentech continues to develop NF-kappaB Decoy, which is in two Phase I/II trials for the treatment of eczema.

"By combining the financial resources of the two companies and the expertise of the two management teams, which include significant experience in regulatory affairs, clinical trials management and product marketing and commercialization, we believe that our late-stage products in pain management will be more expeditiously commercialized," stated Ronald M. Burch, M.D., Ph.D., CEO of AlgoRx. "This merger may enable us to file a New Drug Application (NDA) for our lead product candidate, ALGRX 3268 for topical local anesthesia in 2006."

- read this press release for more information