Inex receives $1 million milestone payment from partner Hana Biosciences for dosing in INX-0125 trial

By Lisa Kerner

Charlotte, N.C., Aug. 30 - Inex Pharmaceuticals Corp. said its partner Hana Biosciences Inc. began enrollment in a phase 1 human clinical trial to evaluate the safety, tolerability and preliminary efficacy of INX-0125 (sphingosomal vinorelbine) as a treatment for advanced solid tumors.

Patient dosing in the trial triggers a $1 million milestone payment to Inex from Hana as part of a licensing agreement that includes INX-0125. About $800,000 will be used toward Inex's note purchase of $24.4 million.

Related to the note purchase, Inex shareholders are expected to consider a reorganization plan that would transfer all of Inex's pharmaceutical assets to its subsidiary, Tekmira Pharmaceuticals Corp.

Based in South San Francisco, Calif., Hana is a biopharmaceutical company focused on advancing cancer care.

Inex is a Canadian biopharmaceutical company developing drugs and drug delivery systems to improve the treatment of cancer.

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