Infinity Pharmaceuticals has reported that Mundipharma International has committed to providing over $50 million in funding in 2013 for the continued development of IPI-145, Infinity's potent, oral inhibitor of phosphoinositide-3-kinase (PI3K) delta and gamma, as well as development candidates arising out of Infinity's innovative discovery programs. An extension of the companies' global strategic alliance, this funding reflects the broad commercial potential of IPI-145 in both hematologic cancers and inflammatory conditions as well as the continued productivity of Infinity's discovery and development programs.

"Mundipharma's substantial financial commitment to our PI3K and discovery programs through at least 2013 demonstrates our shared belief that, with key clinical events anticipated in 2012, we are building one of the broadest, deepest and most exciting pipelines of any clinical-stage company in oncology and inflammation," stated Adelene Q. Perkins, president and chief executive officer of Infinity.

"Since our alliance began in 2008, Infinity has advanced and expanded its portfolio of innovative product candidates," said Antony Mattessich, regional director of Europe at Mundipharma. "Infinity's productivity and track record in achieving its development objectives make the company an ideal partner, and we look forward to an ongoing collaboration which we hope will yield multiple best-in-class treatments that address significant unmet medical needs."

Infinity is currently conducting two phase I clinical trials of IPI-145. The first trial, which is intended to facilitate phase II clinical development of IPI-145 in inflammation, is a double-blind, randomized, placebo-controlled study designed to evaluate the safety, tolerability, pharmacokinetics and pharmacodynamics of single and multiple escalating doses of IPI-145 in healthy adult subjects. The second trial is an open-label, dose-escalation study designed to evaluate the safety, pharmacokinetics and clinical activity of IPI-145 in patients with advanced hematologic malignancies. Following the determination of the maximum tolerated dose in the dose escalation phase, an expansion phase will follow in patients with selected hematologic malignancies. Data from both of these studies are expected in 2012.