Cipla Technologies LLC, a subsidiary of the company said it signed a cognitive pact with Pulmatrix Inc. to co-develop a formulation for the treatment of allergic bronchopulmonary aspergillosis in patients with asthma. Also, both the companies have inked an agreement to co-develop and commercialise of Pulmazole, the Mumbai-based firm said in a filing.
As per the agreement, Cipla Technologies will make a payment of $22 million in exchange for assigning all rights for Pulmazole in relation to the pulmonary indications with Pulmatrix.
After which, both the companies would equally share future cost of the development and commercialisation of the Pulmazole and worldwide future profits from the later sales, the statement in the filing said.
“Pulmazole will be Cipla’s entry into the branded respiratory space and will serve a vital unmet medical need for the treatment of ABPA, a condition that possibly impacts over 2 million patients worldwide but has no labelled drug,” Cipla MD and Global CEO Umang Vohra said.