Initiator Pharma A/S, a clinical-stage pharma company, announced today its decision not to exercise the exclusive option agreement for a Phase II/III ready pharmaceutical asset. With this decision the company reiterates previous statement that its current cash position will be sufficient to fund all planned and committed activities through 2024.
“We have now evaluated the asset available to us from the option agreement. After careful consideration, we have concluded that the profile of the compound does not fulfill our evaluation cornerstone criteria, set to maximize clinical and commercial success within a reasonable timeline and investment. Hence the inclusion of the asset in our current portfolio differs from our ambition of creating shareholder value. I am pleased to see that our organization has performed an efficient and in-depth due diligence on the asset, and I feel confident that this is the correct decision,” says Claus Elsborg Olesen, CEO at Initiator Pharma.
The decision does not affect any ongoing clinical trials with IP2015 and IP2018 for organic and psychogenic erectile dysfunction respectively, nor does it impact the IPTN2021 program for neuropathic pain.