Friday December 05 2008 | Biotechnology feed | All feeds
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Friday December 05 2008 | Biotechnology feed | All feeds
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IONIX ANALGESIC COMPLETES PHASE I TRIALS: SERIES B FINANCING SECURED Cambridge, UK. July 16, 2003: Ionix Pharmaceuticals, the European analgesic drug discovery company, announced today that it had successfully completed phase I clinical studies for its IX-1003 product candidate. IX-1003 is a proprietary intranasal formulation of the opioid agonist buprenorphine, designed to rapidly alleviate post-operative pain and other acute pain conditions.“We are excited by the potential of IX-1003 shown in our phase I trials. The data and profile support that IX-1003 may offer valuable benefits to patients, including fast-onset of pain relief, superior safety, and the ability to tailor therapy to the individual”, said Phillip Birch, Chief Scientific Officer of Ionix Pharmaceuticals. “Our clinical experience with IX-1003 has generated significant interest from potential corporate partners”, said Andrew Sandham, President & CEO. “We plan to select our partner to leverage phase II studies due to start in 2004”. Ionix also announced that it had received £10m of venture capital in a Series B financing in March this year. Investors included Apax Partners and The Wellcome Trust. Proceeds from this financing have accelerated the development of the company’s proprietary programmes in novel ion channel blockers for the treatment of chronic inflammatory and neuropathic pain. “The Ionix team is first class. This is demonstrated by the excellent progress the company has made in rapidly developing novel analgesics towards the clinic. Apax Partners are proud to be investors in Ionix”, said Cathrin Petty of Apax Partners. In addition to IX-1003, Ionix is developing IX-2000: a calcium channel blocker programme for neuropathic pain, IX-3000: a sodium channel blocker programme for inflammatory pain, and a pipeline of proprietary ion channel analgesic discovery programmes. - ENDS - Notes to Editors About Ionix Pharmaceuticals Ionix Pharmaceuticals, based in Cambridge UK, is a leader in the discovery and development of new analgesic medicines for the treatment of acute and chronic pain. Using proprietary drug targets and state-of-the-art chemistry, the company is developing medicines that are designed to alleviate pain associated with trauma, operative procedures, and debilitating diseases such as arthritis, diabetes and multiple sclerosis. Ionix Pharmaceuticals is a privately held company and was founded in 2001. For Further Information Contact: Ionix Pharmaceuticals, Ltd. Andrew Sandham President & CEO +44 (0)1223 433 721 |
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