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Celtic Therapeutics and Resolvyx Pharmaceuticals Announce an Alliance in Ophthalmology
Date:10/26/2010

husetts, October 26, 2010 /PRNewswire/ -- Celtic Therapeutics Holdings L.P. (Celtic Therapeutics), a successor firm to Celtic Pharma, and Resolvyx Pharmaceuticals, Inc. (Resolvyx) announced today that they have entered into an option agreement relating to Resolvyx's RX-10045, a late-stage program for the treatment of dry eye syndrome and other ophthalmic conditions. In connection with the RX-10045 option agreement, Celtic Therapeutics purchased a note convertible into Resolvyx equity.

Under the terms of the option agreement, Celtic Therapeutics has an exclusive option to acquire and license rights to Resolvyx's RX-10045, in all eye indications. RX-10045 is scheduled to enter a Phase III randomized, placebo-controlled, multi-center study in 2011. As part of the agreement, Celtic Therapeutics may also license rights to and develop another Resolvyx compound in a topical formulation for ophthalmic indications. Resolvins are a recently discovered family of naturally-occurring, small molecule lipid mediators that can be targeted to treat a wide range of diseases. Resolvins are shown to be highly potent and efficacious across a broad range of pre-clinical models of asthma, atherosclerosis, rheumatoid arthritis, inflammatory bowel disease, dry eye and retinal disease, among others.

Dry eye, one of the most common problems treated by ophthalmologists, and a $1.7 billion global market today, is a chronic, multifactorial disease of the tear ducts and ocular surfaces that results in symptoms of discomfort, visual disturbance, and tear film instability with potential damage to the ocular surfaces. RX-10045, a resolvin administered as a topical eye drop, produced dose-dependent, significant improvement on the primary endpoints for both the signs and symptoms of dry eye, and was generally shown to be safe and well tolerated in a large placebo-controlled Phase II study.

"Celtic Therapeutics is excited to invest in Resolvyx's groundbreaking technology, which
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SOURCE Celtic Pharmaceutical Holdings L.P.
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