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

has already demonstrated impressive efficacy and safety in patients with dry eye syndrome," commented Peter B. Corr, Co-Founder and Managing General Partner of Celtic Therapeutics. "The market for dry eye products has grown substantially over the past several years, despite the fact that most patients are not satisfied with current therapeutic options. With the potential for improved efficacy, a much faster onset of action, an improved tolerability profile, and a strong patent estate, we believe RX-10045, if approved, would represent an important step forward in the treatment of this widely prevalent condition."

"We are delighted to be allied with Celtic Therapeutics in maximizing the therapeutic potential of Resolvins to treat dry eye syndrome and other eye disease," said Jamie Nichols, Chief Operating Officer at Resolvyx. "Celtic Therapeutics brings both the capital and the world class development expertise to advance RX-10045 through Phase III development in dry eye and to maximize the potential of Resolvins to treat eye disease more broadly. This will allow Resolvyx to dedicate our resources to pursue the exceptional therapeutic potential of resolvins for non-ophthalmic diseases."

"Our investment in Resolvyx and RX-10045 demonstrates Celtic Therapeutics' focus on novel classes of biologic or small molecule therapeutics that hold the promise of significant medical advances compared to currently available treatment options," commented Stephen Evans-Freke, Co-Founder and Managing General Partner of Celtic Therapeutics. "This is the fourth such transaction we have announced to date; we have previously announced our investment in Kolltan Pharmaceuticals, which is developing second-generation monoclonal antibody drugs targeting tyrosine kinase receptors for the treatment of many cancer types, and alliances with Spirogen for the development of small molecule cytotoxic anti-cancer drugs designed to circumvent drug-resistance mechanisms, and with Bellus H
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SOURCE Celtic Pharmaceutical Holdings L.P.
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