CombinatoRx, Incorporated (NASDAQ: CRXX) today announced that it has changed its name to Zalicus Inc. The company will begin trading under the new ticker symbol ZLCS on the NASDAQ Global Market at market open on September 9, 2010. The company also received a new CUSIP number (98887C 105) for its common stock. CombinatoRx merged with Neuromed Pharmaceuticals in December 2009 and has chosen a new name to highlight the assets, expertise and focus of the combined company. For detailed information on the company, its product candidates, drug discovery technologies and capabilities, please visit the new website: www.zalicus.com.
“We have selected rheumatoid arthritis as the most appropriate initial indication to pursue for Synavive based on feedback from practicing rheumatologists and key opinion leaders who have expressed a substantial medical need for safe and effective treatment options for rheumatoid arthritis.”
"We have evolved into a new, multidimensional company following the completed integration of Neuromed and CombinatoRx and the commercial launch of Exalgo by Covidien. Under the Zalicus name we look forward to bringing innovative treatments to patients using the assets, expertise and focus of the merged company," explained Mark H.N. Corrigan, MD, President and CEO of Zalicus. "Our new name reflects the Company's transformation into a biopharmaceutical company with product revenues, two powerful and differentiated drug discovery platforms, a pipeline of product candidates and proven drug development expertise focused on the treatment of pain and inflammation."
In conjunction with the name change, the company updated its development strategy for Synavive™, its most advanced clinical product candidate being developed for the treatment of immuno-inflammatory diseases. Zalicus is currently working to optimize and secure adequate supplies of its modified-release, once-daily capsule formulation of Synavive to meet anticipated clinical trial demands. This formulation is designed to provide greater efficacy through the optimal co-exposure of Synavive's components, as well as an improved tolerability profile. In addition, based on feedback from leading practitioners in the arthritis field and compelling data from previous Synavive clinical trials, Zalicus plans to advance Synavive into further Phase 2 clinical development for the treatment of rheumatoid arthritis using its novel modified-release formulation, in early 2011.
"Our clinical experience with Synavive has demonstrated a treatment benefit over placebo in rheumatoid arthritis and a generally well-tolerated safety profile," Dr. Corrigan commented. "We have selected rheumatoid arthritis as the most appropriate initial indication to pursue for Synavive based on feedback from practicing rheumatologists and key opinion leaders who have expressed a substantial medical need for safe and effective treatment options for rheumatoid arthritis."