Cosmo Pharmaceuticals SpA, has signed an agreement with Ferring Pharmaceuticals for the licensing of Budesonide MMX™.
Cosmo Pharmaceuticals SpA, has signed an agreement with Ferring Pharmaceuticals for the licensing of Budesonide MMX™. The agreement grants Ferring an exclusive worldwide license (excluding Japan and the USA) for Budesonide MMX™, which is predicted to become the first worldwide approved oral corticosteroid for ulcerative colitis. Ulcerative colitis is a type of inflammatory bowel disease (IBD) that produces inflammation and ulcers along the inside of the large intestine.
Corticosteroids are known to have a stronger effect than first line mesalamine treatments that approximately 70% of all patients take. At this point in time no corticosteroid drug has been granted worldwide approval for treatment of ulcerative colitis because of the side effect profile associated with the drug group. Budesonide MMX™, however, retains the effectiveness of classical corticosteroids but has substantially reduced side effects thanks to its targeted release in the colon.
Ferring will immediately partner with Cosmo on the extensive multi-centre phase III clinical trials in Europe. Cosmo is a speciality pharma company that aims to become a global leader in optimised therapies for certain gastrointestinal diseases. The com¬pany’s proprietary clinical development pipeline specifically addresses innovative treatments for IBD, such as ulcerative colitis and Crohn’s disease, and colon infections.
Mauro Ajani, CEO of Cosmo said that the agreement will formalize relationship between the two companies and further validates innovative MMX technology. Ferring is one of the pioneers in the IBD sector and has a very experienced and extensive distribution network in Europe.