Boehringer Ingelheim and Funxional Therapeutics have signed an agreement under which Boehringer will acquire the global rights to Funxional's FX125L compound and somatotaxin program.
Boehringer is responsible for all further research, development and commercialization of FX125L, to treat a range of inflammatory diseases. Financial details of the transaction were kept confidential.
Boehringer Ingelheim corporate senior vice president medicine Prof. Klaus Dugi said the company has added another promising compound to its development pipeline of drugs for the treatment of respiratory disease, one of its most important therapeutic areas.
"By acquiring the Funxional Therapeutics programme, we are looking forward to bringing a potential new therapy to patients, for instance those suffering from Asthma and COPD," Dugi added.
Funxional Therapeutics founder and CSO David Grainger said, "We are very pleased that the future development of FX125L and the somatotaxin programme will be now driven forward by Boehringer Ingelheim."
