Predix Pharmaceuticals receives milestone payment from Cystic Fibrosis Foundation affiliate

By Lisa Kerner

Charlotte, N.C., July 13 - Predix Pharmaceuticals Holdings, Inc. received a milestone payment, in an undisclosed amount, from Cystic Fibrosis Foundation Therapeutics, Inc. (CFFT), the nonprofit drug discovery and development affiliate of the Boston-based Cystic Fibrosis Foundation, for the first of two programs as part of a 2005 research, development and commercialization agreement.

The first program is focused on the Cystic Fibrosis Transmembrane conductance Regulator (CFTR) ion channel protein and Predix's proprietary Predict technology to identify potential drug target sites.

In the second program, CFFT uses Predix's Predict technology to discover small-molecule agonists of the P2Y(2) protein to ameliorate symptoms of cystic fibrosis.

Cystic fibrosis, a genetic disease affecting about 30,000 people in the United States, is the result of a defect in the CFTR gene.

Predix, which recently announced a definitive agreement to merge with EPIX Pharmaceuticals Inc., is a Lexington, Mass.-based pharmaceutical company developing novel, small-molecule drugs that target G-Protein Coupled Receptors (GPCRs) and ion channels.

Based in Cambridge, Mass., EPIX discovers pharmaceuticals for imaging for the diagnosis, treatment and monitoring of disease.

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