Boehringer Ingelheim and Funxional Therapeutics announce acquisition of Funxional’s FX125L and the somatotaxin portfolio to treat inflammation
Ingelheim, Germany and Cambridge, UK – 23 July 2012 Today, Boehringer Ingelheim, one of the world’s leading pharmaceutical companies, and Funxional Therapeutics, a clinical-stage, asset-centric, private company, announced an agreement under which Boehringer Ingelheim will acquire the global rights to Funxional Therapeutics’ FX125L compound and somatotaxin programme. FX125L is a small molecule to treat a broad range of inflammatory diseases and was recently studied in a Phase 2 clinical trial in patients. Boehringer Ingelheim will be responsible for all further research, development and commercialisation of FX125L. Financial details of the transaction were not disclosed.