SILVER SPRING, Md., and INDIANAPOLIS, Feb. 10 /PRNewswire-FirstCall/ -- Lung Rx, LLC, a wholly-owned subsidiary of United Therapeutics Corporation , announced today that it has entered into a Development Agreement with ImmuneWorks, Inc. to pursue development of ImmuneWorks' lead compound, IW001, a purified bovine Type V Collagen oral solution for the treatment of Idiopathic Pulmonary Fibrosis (IPF) and Primary Graft Dysfunction (PGD) in patients receiving lung transplant. The parties expect to commence human clinical testing in 2010. In November 2009, the U.S. Food and Drug Administration granted orphan drug exclusivity to IW001.
In addition to funding the development program, Lung Rx has been granted an option to acquire all of the issued and outstanding capital stock of ImmuneWorks. Financial terms of the transaction were not disclosed.
Idiopathic Pulmonary Fibrosis is a progressive, usually fatal disease that afflicts in excess of 100,000 persons in the United States alone. According to the Coalition of Pulmonary Fibrosis, approximately 48,000 new patients are diagnosed with this devastating disease annually with 40,000 deaths from the disease each year -- about the same number of deaths as from breast cancer. Within five years of diagnosis, progression of IPF leads to death in approximately 70% of patients. There are currently no FDA-approved options for patients suffering from this life-threatening condition.
About Lung Rx and United Therapeutics
Lung Rx LLC, a wholly-owned subsidiary of United Therapeutics Corporation, is a biotechnology company focused on unmet medical needs in pulmonary medicine and pulmonary delivery of innovative therapeutic products. United Therapeutics Corporation is a biotechnology company focused on the development and commercialization of unique products to address the unmet medical needs of patients with chronic and life-threatening conditions. [uthr-g]
United Therapeutics Corporation