Promore sells rights to PXL01 in spinal surgery to PharmaResearch

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Stockholm, near to where Promore is based. (Thomas Fabian/CC BY-SA 2.0)

Promore Pharma has granted PharmaResearch Products the global license to commercialize PXL01 in the prevention of fibrosis after spinal surgery. The agreement sees PharmaResearch committing to fund development of the synthetic peptide in the indication and hand over milestones and royalties.

Stockholm-based Promore has focused its internal PXL01 activities on the prevention of adhesions in patients who have undergone flexor tendon repair. Promore thinks the human lactoferricin-derived peptide can improve outcomes in these patients by inhibiting the release of proinflammatory cytokines and boosting fibrinolytic activity.

The Swedish biotech has tested the idea in a randomized, double-blind phase 2b trial that linked use of the drug to improved joint mobility. That done, Promore has set its sights on phase 3 and branching out into new indications.

PharmaResearch has signed up to facilitate the second of those goals. The Korean company will put up the money needed to develop PXL01 in spinal surgery patients in return for a global license in the indication. News of the deal comes two years after PharmaResearch and Promore struck a deal for the regional rights to a spinal surgery medical device.

In striking another deal with PharmaResearch, Promore has followed through on its belief that the potential of PXL01 exceeds its internal capacity.

”There are numerous potential medical applications for PXL01, but Promore has finite resources and therefore, we feel that investments from strategic and capable partners such as [PharmaResearch] in our technology and products is an appealing opportunity for us to broaden the applicability of our technology base, and in that way raise the value of our company,” Promore CEO Jonas Ekblom said in a statement.

Offloading indication-specific rights to PXL01 frees Promore to focus its resources on the phase 3 tendon repair program and earlier-stage work on its second candidate, LL-37. Promore is developing LL-37 as a treatment for venous leg ulcers.