Spinifex Pharmaceuticals has been acquired by Novartis International AG for an upfront cash payment of $US200 million (about $A260 million), plus undisclosed clinical development and regulatory milestone payments. Spinifex is developing the drug candidate EMA401, an oral treatment for chronic pain, particularly neuropathic pain (a type of nerve pain), without central nervous system side effects. The technology is based on research by UQ’s Professor Maree Smith and Dr Bruce Wyse.
Professor Smith said the acquisition brought EMA401 a step closer to the people who needed it most.
“Chronic pain can be a debilitating condition, most commonly associated with cancer chemotherapy, post-herpetic neuralgia (a painful condition that can follow shingles), diabetes, peripheral nerve injury and osteoarthritis.
EMA401 is a novel angiotensin II type 2 (AT2) receptor antagonist being developed as a potential first-in-class oral treatment.