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LONDON (Alliance News) - Respiratory drug development company Synairgen PLC on Wednesday said it has entered into a research collaboration agreement with Australian pharmaceutical company Pharmaxis Ltd.
The pair will work on developing a selective inhibitor to the lysyl oxidase type 2 enzyme to treat idiopathic pulmonary fibrosis, a fatal lung disease.
"We are delighted to be collaborating with Pharmaxis in idiopathic pulmonary fibrosis, a severe and fatal lung disease. Pharmaxis has a proven competence in the discovery and development of novel molecules, making it an ideal partner," said Synairgen Chief Executive Richard Marsden.
Synairgen shares were up 8.1% to 36.20 pence on the news, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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