FX125L is a small molecule to treat a broad range of inflammatory diseases and was recently studied in a phase II clinical trial in patients. Boehringer Ingelheim will be responsible for all further research, development and commercialization of FX125L. Financial details of the transaction were not disclosed.
"Boehringer Ingelheim is delighted to add another promising compound to its development pipeline of drugs for the treatment of respiratory disease, one of its most important therapeutic areas," said Klaus Dugi, corporate senior vice president medicine, Boehringer Ingelheim. "By acquiring the Funxional Therapeutics program, we are looking forward to bringing a potential new therapy to patients, for instance those suffering from asthma and COPD."
Somatotaxins are a new class of anti-inflammatory small molecules that exploit a new pathway discovered by FXT. This novel pathway is acting through the type-2 somatostatin receptor involved in the resolution of inflammation, and disrupted in chronic inflammatory diseases including asthma, COPD and rheumatoid arthritis. FXT's portfolio of somatotaxins exploit this pathway to deliver broad and potent anti-inflammatory activity, with different compounds optimized for topical, parenteral and oral delivery.
Michele Ollier, chairman of the board of Index Ventures — investor in Funxional Therapeutics — added, "This acquisition is further validation of Index's business model and we congratulate the team who have delivered first class science and developed a very exciting molecule. They have done an extraordinary job of building this company."