Myrexis returns rights to Azixa to EpiCept

US drug developer EpiCept (Nasdaq: EPCT) says it has received notice of termination, effective as of August 28, 2012, of its license and collaboration agreement with biotech firm Myrexis (Nasdaq: MYRX, previously known as Myriad Pharmaceuticals). Among the compounds that had been licensed to Myrexis under the terminated agreement was EpiCept's anti-cancer drug candidate Azixa (MPC-6827).

Azixa is a vascular disruption agent discovered by EpiCept that has demonstrated potent anti-cancer activity. The drug has received orphan drug status in the USA for the treatment of glioblastoma multiforme (GBM). EpiCept says it will now seek to exploit Azixa’s potential with prospective partners.

In February 2012, Myrexis suspended development activities of all its preclinical and clinical programs in oncology and autoimmune diseases, and in May 2012 stated that it is focused on the identification, evaluation and acquisition of appropriate commercial-stage assets. Accordingly, Myrexis has elected to terminate its efforts to develop and commercialize any product, including Azixa, in any major market as such products and markets are defined in the License and Collaboration agreement dated November 19, 2003. As a result of the termination of the agreement, all rights and licenses granted under the agreement by EpiCept to Myrexis have terminated and reverted to EpiCept.