Stockholm, Sweden - Medivir AB (Nasdaq Stockholm: MVIR), a pharmaceutical company focused on developing innovative treatments for cancer in areas of high unmet medical need, announces today that its partner Infex Therapeutics has signed an exclusive license agreement for the Indian market with Indian pharmaceutical company Venus Remedies Ltd for the clinical development of its metallo-beta-lactamase-inhibitor MET-X, targeting Gram-negative Enterobacterales.
Under the terms of the agreement, Venus will initially conduct a phase I trial for MET-X in combination with the beta-lactam antibiotic meropenem with healthy volunteers in India. Subject to the successful completion of the phase I trial, Venus will then conduct a combined phase II/III trial of MET-X/meropenem in patients with drug resistant Complicated Urinary Tract Infections (cUTIs), a common hospital acquired infection that can lead to life-threatening complications.
Infex will receive licence fee payments upon signature and completion of near-term milestones and tiered double-digit royalty payments on net sales of MET-X/meropenem in India by Venus. MET-X originates from Medivir's Metallo Beta Lactamase (MBLI) program aimed at addressing the threat of resistant bacteria and was outlicensed in 2017 (the "Agreement") to the AMR Centre (now Infex Therapeutics) in England. Under the terms of the Agreement, Medivir is entitled to a share of potential future revenue.
Read more: Press Release Infex.
For additional information, please contact;
Magnus Christensen, CFO, Medivir AB
Telephone: +46 8 5468 3100
E-mail: magnus.christensen@medivir.com
About Medivir
Medivir develops innovative drugs with a focus on cancer where the unmet medical needs are high. The drug candidates are directed toward indication areas where available therapies are limited or missing and there are great opportunities to offer significant improvements to patients. Medivir is focusing on the development of fostroxacitabine bralpamide (fostrox), a drug candidate designed to selectively treat cancer cells in the liver and to minimize side effects. Collaborations and partnerships are important parts of Medivir's business model, and the drug development is conducted either by Medivir or in partnership. Medivir's share (ticker: MVIR) is listed on Nasdaq Stockholm's Small Cap list. www.medivir.com.
About Infex
Infex Therapeutics Holdings plc is a leader in critical-priority infectious diseases, with a broad and diverse pipeline of innovative best-in-class and first-in-class drug candidates to address the urgent global shortage of novel anti-infective treatments. The Company is building a differentiated pipeline through in-house drug discovery, acquisition, co-development and in-licensing of early stage/pre-clinical candidates, developing them to clinical proof of concept before licensing to commercial pharma partners. www.infextx.com.
