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Celtic licenses Resolvyx Pharma dry eye syndrome compound

PBR Staff Writer Published 11 January 2011

Celtic Therapeutics has licensed and taken over worldwide rights related to Resolvyx Pharmaceuticals' RX-10045 as a treatment of dry eye syndrome and other ophthalmic conditions.

Resolvyx Pharma has scheduled RX-10045 Phase III randomized, placebo-controlled, multi-center study in 2011.

Under the agreement, Celtic Therapeutics may also license rights to and develop a second Resolvyx compound in a topical formulation for ophthalmic indications.

The tie up includes upfront consideration, near-term milestone payments, and funding for 100% of future development costs.

Resolvyx Pharma executive chairman Greg Weinhoff said the deal with Celtic Therapeutics will provide the necessary capital and clinical expertise to pursue the development plans for RX-10045 while allowing Resolvyx to share in the future success of this exciting program.

Celtic managing general partners and co-founders Stephen Evans-Freke and Peter Corr said that if approved, RX-10045 should provide superior efficacy to current therapeutic options in Dry Eye.