Mundipharma commits over $50 million in R&D funding for Infinity's PI3K inhibitor

Privately-held Mundipharma International as committed to providing over $50 million in funding in 2013 for the continued development of IPI-145, Infinity Pharmaceuticals’ (Nasdaq: INFI) potent, oral inhibitor of phosphoinositide-3-kinase (PI3K) delta and gamma, as well as development candidates arising out of Infinity’s innovative discovery programs.

An extension of the companies’ global strategic alliance, this funding reflects the broad commercial potential of IPI-145 in both hematologic cancers and inflammatory conditions as well as the continued productivity of Infinity’s discovery and development programs.

“Mundipharma’s substantial financial commitment to our PI3K and discovery programs through at least 2013 demonstrates our shared belief that, with key clinical events anticipated in 2012, we are building one of the broadest, deepest and most exciting pipelines of any clinical-stage company in oncology and inflammation,” stated Adelene Perkins, president and chief executive of Infinity.