Invex Therapeutics terminates manufacturing agreement with Peptron

Invex Therapeutics Ltd (Invex, ASX:$IXC) has mutually terminated the long term Collaboration and Manufacturing Agreement with Peptron, Inc. (KOSDAQ: 087010). As part of the termination, both companies have waived a reciprocal regulatory fee related to the initial Investigational New Drug (IND) application with the US Food and Drug Administration. Invex has also granted Peptron an exclusive, royalty-free license to commercialise PresendinTM for Idiopathic Intracranial Hypertension (IIH) in Korea and China, along with a first right of refusal for global development rights in IIH.

Executive Commentary

Dr Thomas Duthy, Executive Director of Invex Therapeutics, stated, 'With the closure of the IIH EVOLVE clinical trial, there was no longer a need for Invex to order additional finished drug product and placebo from Peptron to support our global study in IIH. For our traumatic brain injury and glaucoma activities, Peptron's sustained release formulation of Exenatide is not considered an appropriate formulation. Accordingly, Invex and Peptron have agreed to mutually terminate the Collaboration and Manufacturing Agreement signed in September 2021 with immediate effect.'

Summary

Invex Therapeutics Ltd (ASX:IXC) has announced the mutual termination of the long term Collaboration and Manufacturing Agreement with Peptron, Inc. As part of the termination, both companies have waived a reciprocal regulatory fee and Invex has granted Peptron an exclusive, royalty-free license to commercialise PresendinTM for Idiopathic Intracranial Hypertension (IIH) in Korea and China, along with a first right of refusal for global development rights in IIH. Dr Thomas Duthy, Executive Director of Invex Therapeutics, highlighted that the closure of the IIH EVOLVE clinical trial eliminated the need for additional finished drug product and placebo from Peptron, leading to the mutual termination of the agreement. The termination is effective immediately. The company's focus on repurposing Exenatide for neurological conditions involving raised intracranial pressure remains unchanged, with ongoing activities in traumatic brain injury and glaucoma. Invex continues to pursue its corporate strategy and remains committed to its development and commercialization efforts for PresendinTM.