This article is more than 5 years old. Information may no longer be current.
Resolvyx Pharmaceuticals, Celtic Therapeutics finalize agreement to develop dry eye treatment
Click Here to Manage Email Alerts
CAMBRIDGE, Mass. — Resolvyx Pharmaceuticals and Celtic Therapeutics Holdings have entered into a final agreement to further develop a resolvin for treating dry eye syndrome, according to a press release from Resolvyx.
Under the agreement, which was originally established in October 2010, Celtic Therapeutics has acquired and licensed worldwide rights in all ophthalmic indications regarding a late-stage clinical program centered on Resolvyx's RX-10045, a preservative-free synthetic analogue of the resolvin RvE1 that has shown potential for treating dry eye syndrome.
Under the terms of the deal, Celtic Therapeutics must pay Resolvyx an upfront payment and near-term milestone payments, as well as 100% financing for future development costs. The companies will split profits from future sale of RX-10045, including initial payments, royalties or other income, the release said.
RX-10045 is slated to enter a randomized, placebo-controlled, multicenter phase 3 clinical trial later this year. Also under the agreement, Celtic Therapeutics retains the right to license and develop a second Resolvyx compound in a topical formulation for ophthalmic indications, according to the release.