MoliChem Medicines Inc has re-acquired from InterMune Inc the exclusive license for the development of Moli1901, its lead product candidate for the treatment of cystic fibrosis (CF) patients. The Exclusive Development and Commercialization Agreement with InterMune has been terminated, and MoliChem expects to receive no further payments there under from InterMune.
MoliChem also announced that it is reorganizing to focus its resources on identifying new development partners for its pipeline of intellectual property including Moli1901 and securing new funding. In connection with that reorganization, the Company has temporarily reduced development and administrative staff from 8 to 4.
"With the collaboration of InterMune, the Company has made significant progress in advancing the development of Moli1901," said Dr. Luis Molina, founder, President and CEO of MoliChem. "The reacquisition of this compound provides a significant strategic opportunity for MoliChem to create new partnerships in Europe and in the US in the near term."
CF is a genetic disease characterized in the lung, by abnormal chloride and water transport from the pulmonary lining cells into the conductive bronchi (lung passages or breathing tubes), impairing the lung's natural cleansing mechanisms. Chronic lung inflammation and infection are the result of the impairment. The lung damage is progressive and leads to premature mortality of children, adolescents and young adults.