Mundipharma will invest a further $50m in Infinity Pharmaceuticals in 2013 to finance the development of an oral inhibitor.
Mundipharma International has extended its strategic alliance with US-based Infinity Pharmaceuticals on Tuesday, committing a further $50m towards the development of Infinity’s IPI-145 oral inhibitor, to be invested in 2013.
Infinity initially entered into the alliance with Gemany-based Mundipharma and the US-based Purdue Pharma in 2008 to develop a previous inhibitor. As part of the deal, Mundipharma and Purdue extended a $50m line of credit to Infinity, repayable from 2019, of which Infinity has drawn the full amount.
The IPI-145,…
