Cypralis to acquire Scynexis assets
The deal includes a large portfolio of cyclophilin inhibitors
Cypralis, a Cambridge, UK-based life sciences company focused on the discovery of novel therapeutics based on modulation of peptidyl-prolyl isomerases (PPIases), has acquired a portfolio of cyclophilin inhibitor assets from Scynexis, headquartered in New Jersey, US.
The deal involves the transfer of a library of cyclophilin inhibitor compounds plus associated patents and know-how to Cypralis in return for milestone payments to Scynexis upon the successful progression of candidates into later stage clinical studies, and a royalty payable upon product commercialisation.
The financial terms of the transaction have not been disclosed.
Simon Kerr, CEO of Cypralis, said with the acquisition Cypralis now owns one of the 'largest and most structurally diverse libraries of cyclophilin inhibitors in the world', with associated IP and sub-type selective compounds in three distinct chemical families.
'This transaction will enable Cypralis to accelerate its progression towards the clinic, as the company seeks to develop novel, selective cyclophilin inhibitors that can offer new treatment options for serious diseases,' he said.
Cypralis was spun out from Selcia in 2013 to exploit its expertise and know-how in targeting peptidyl-prolyl isomerases (known as PPIases), a large family of druggable protein targets involved in many acute and chronic diseases.