Biodexa to acquire worldwide license to tolimidone

UK headquartered clinical-stage Biodexa Pharmaceuticals (Nasdaq: BDRX) has entered into an agreement for the assignment of Adhera Therapeutics’ rights to tolimidone (formerly coded MLR-1023) under an exclusive, worldwide, sub-licensable license from Melior Pharmaceuticals I, to develop, manufacture, commercialize or otherwise exploit tolimidone.

Tolimidone was originally discovered by Pfizer (NYSE: PFE) and was developed through Phase II for the treatment of gastric ulcers. Pfizer undertook a broad pre-clinical program to characterize the pharmacology, pharmacokinetics, metabolism and toxicology of tolimidone. Pfizer discontinued development of the drug due to lack of efficacy for that indication in a Phase II clinical trial.

Tolimidone is a selective activator of the enzyme lyn kinase which increases phosphorylation of insulin substrate -1, thereby amplifying the signalling cascade initiated by the binding of insulin to its receptor.