Predix Pharmaceuticals recently merged with the Nasdaq-traded EPIX Pharmaceuticals.
Drug development company Predix Pharmaceuticals, announced today it had successfully completed a Phase Ib clinical trial to study the pharmacodynamics and tolerability of PRX-08066, a drug developed for treatment of elevated pulmonary artery pressures induced by low oxygen levels.
Founded in Israel and now registered in the US, Predix recently announced a definitive agreement to merge with EPIX Pharmaceuticals (Nasdaq: EPIX), in a agreement reflecting a value for Predix of $90 million. Epix develops imaging pharmaceuticals targeted at the molecular level for MRI imaging. The company has a pipeline of diagnostic pharmaceutical products for detection of various vascular and coronary diseases.
Published by Globes [online], Israel business news - www.globes.co.il - on April 20, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006