Syntaxin, a biotechnology company developing novel biopharmaceuticals to control cell secretion, today announces its partner Allergan, Inc has initiated two Phase II trials to evaluate the safety and efficacy of its re-targeted endopeptidase drug candidate AGN-214868. The Phase II trials will be focused on patients with post herpetic neuralgia (PHN) and overactive bladder. With the initiation of Phase II trials, Syntaxin's drug technology platform reached a significant point of development and triggered an undisclosed milestone payment. Allergan provided an update in its Q4 2010 earnings call on 2nd February 2011.
AGN-214868 was discovered under the collaboration using Syntaxin's proprietary discovery platform. Under this agreement, Allergan is responsible for the clinical development, marketing and sales of identified drug candidates. Syntaxin receives milestone payments and royalties on product sales.
Dr Melanie Lee, CEO of Syntaxin, commented: "The progression of AGN-214868 into Phase II trials is a very important milestone for Syntaxin and validates the strength of our technology platform. The additional therapeutic application of AGN-214868 for overactive bladder widens the application of the re-targeted endopeptidase drug candidate across two distinctively separate disease markets of significant unmet medical need. The versatility of our Targeted Secretion Inhibitors (TSI) platform has enabled Syntaxin to develop exciting proprietary pre-clinical candidates outside pain, in areas such as endocrinology and oncology. This provides Syntaxin with a strong foundation to develop additional value from future partnerships with other pharmaceutical and biotechnology companies."