Proximagen, a developer of CNS therapeutics, has entered into a collaborative research and development agreement with Altacor.
As per the agreement, Altacor will undertake research and development on Proximagen’s 5HT2c programme drug candidate – PRX00933 – in treating glaucoma.
The company claims, PRX00933 which is 5HT2c agonist has recently shown promising results in treating glaucoma by reducing intraocular pressure in industry standard models of glaucoma.
Both companies will conduct a programme of collaborative research to develop PRX00933 in glaucoma and will use the existing clinical package to facilitate the development.
The compound beyond treating glaucoma has the capability to treat obesity, diabetes, epilepsy, urinary incontinence, and psychiatric.
Drug previous study results of double blind, placebo controlled, randomised, phase II study of PRX00933 dosed in over 480 subjects was shown to be safe and well tolerated, and also demonstrated significant weight reduction in patients.
Proximagen CEO Kenneth Mulvany said in this case they will be retaining rights for all indications of PRX00933 outside the field of ophthalmology.