Boehringer drops development of another Pharmaxis candidate

German family-owned drug major Boehringer Ingelheim and Australia’s Pharmaxis (ASX: PXS) late yesterday announced the discontinuation of the development of anti-inflammatory AOC3 inhibitor BI 1467335 for the treatment of patients with moderate-severe non-proliferative diabetic retinopathy (NPDR).

BI 1467335 was acquired from Pharmaxis 2015 and Boehringer Ingelheim will now terminate the agreement, with 90 days' notice during which time Pharmaxis can request return of all existing data and intellectual property, that could have been worth up to around $600 million.

Last December, Boehringer Ingelheim also announced the discontinuation of the development of BI 1467335 for the treatment of NASH (non-alcoholic steatohepatitis). That too was acquired under the deal with Pharmaxis