Frazier Life Sciences has launched a new company called AirNexis Therapeutics, which will develop inhaled suspension and dry powder formulations of HSK39004, a dual PDE3/4 inhibitor for the treatment of COPD that it has licensed from Haisco Pharmaceutical Group. AirNexis has closed a $200 million Series A financing round, the company said, with proceeds to go toward clinical development of AN01 (HSK39004). Haisco says, “This collaboration represents a significant milestone in the internationalization of innovative respiratory drugs originating from China.”
According to the announcements, AirNexis is paying $40 million up front plus $68 million in equity for the rights to develop HSK39004 in a deal that also includes up to $955 million in potential milestone and royalty payments. The deal excludes the rights to develop the drug in Mainland China, Hong Kong, Taiwan and Macau; Haisco is retaining the rights in those markets. Both the inhalation suspension and DPI formulations of HSK39004 are currently in Phase 2 development in China.
AirNexis CEO Maria Fardis commented, “While recent therapeutic advances have given the COPD community new treatment options, we believe there is room for improvement with respect to efficacy and patient experience. With two dosage forms available, an inhalation suspension and an inhalation powder, AN01 may offer meaningful therapeutic options over those that are currently available.”
Read the AirNexis Therapeutics press release
Read the Haisco Pharmaceutical Group press release
