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WEX ends Esteve collaboration, plans to continue TTX development
By Elaine Rigoli
Tampa, Fla., July 28 - WEX Pharmaceuticals, Inc. said Friday that the company and its partner, Laboratories del Dr. Esteve, SA, are entering into discussions to amicably terminate their collaboration on the development of TTX as an analgesic.
"WEX is actively continuing with the development and eventual commercialization of the product," said vice president of regulatory affairs Anh Ho Ngoc in a news release.
"A strategic and regulatory development plan of Tectin as a non-narcotic analgesic in a cancer population is in place. A meeting with Canada's regulatory agency is planned to present the interim data analysis of the double blind, placebo controlled (WEX-014) and the open-label continuation (WEX-014OL) trials and to seek confirmation from the regulatory agency as to the continuation of TTX development in this target population."
The partnership between WEX and Esteve, which was formed in 2002, was aimed at obtaining approval from the regulatory authorities for marketing TTX in Europe.
"I do not expect that the potential termination will have any material impact on the company's financial position. It rather reinforces our commitment to this project. We learned a great deal through our association with Esteve and remain convinced that TTX can be developed as an effective analgesic," president and chief executive officer Edge Wang said in the release.
As a consequence of the termination of the partnership, all rights to market TTX in Europe should revert to the company, which will allow WEX to form a global partnership with a potential partner, officials noted.
Vancouver, B.C.-based WEX develops drug products to treat pain.
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