AlphaRx, Proprius Pharmaceuticals sign license for Indaflex osteoarthritis cream

By Elaine Rigoli

Tampa, Fla., April 11 - AlphaRx, Inc. and Proprius Pharmaceuticals, Inc. have entered into a license agreement giving Proprius exclusive global rights (with the exception of Asia and Mexico) to AlphaRx's topical non-steroidal anti-inflammatory drug (NSAID), Indaflex 2.5% indomethacin cream.

Indaflex, which uses AlphaRx's formulation technology to deliver indomethacin through the skin and directly to the soft tissue surrounding the joint, is currently in phase 2 clinical development in Canada for the treatment of osteoarthritis, according to a news release.

In addition to Indaflex, the agreement gives Proprius rights to successor products and to all other topical NSAID products developed by AlphaRx, the release said.

Under the terms of the agreement, AlphaRx will receive an up-front payment of $1 million and will be eligible to receive additional milestone payments of up to $116 million for the successful development and commercialization of Indaflex, as well as double-digit royalties on worldwide sales.

In addition, Proprius will assume the clinical development costs going forward.

"Given the adverse event profiles of oral NSAIDs and COX-2 inhibitors, and the withdrawals of rofecoxib and valdecoxib from the market, we believe Indaflex has the potential to fill a significant unmet clinical need," Proprius president and chief executive officer Michael J. Walsh said in the release.

AlphaRx is a Markham, Ontario-based biopharmaceutical company that develops formulations of drugs that are insoluble or poorly soluble in water or have yet to be administrable to the human body with an acceptable delivery method.

Proprius is a San Diego-based specialty pharmaceutical company that develops and markets personalized medicine solutions in rheumatology and autoimmune diseases.

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