Biosynexus Incorporated Repurchase of Pagibaximab from GlaxoSmithKline (GSK)
December 17, 2007
 
Biosynexus Incorporated announced that it has completed the repurchase of Pagimaximab from GlaxoSmithKline (GSK). Biosynexus and GSK previously had an exclusive collaborative agreement to develop and commercialize anti-staphylococcal antibodies to prevent and treat infections caused by staphylococcal bacteria. Pagibaximab is a chimeric monoclonal antibody intended for use in very low birth weight premature infants for prevention of staphylococcal sepsis. Staphylococcal infections are a leading cause of morbidity in this vulnerable population and Pagibaximab is being developed to reduce the number of these infections. “We are excited to have the opportunity to continue the development of this product which in previous clinical trials has shown great promise for the prevention of staphylococcal sepsis in this at-risk population” says Dr. Irwin Scher, President and CEO of Biosynexus (www.biosynexus.com). Biosynexus is planning for a resumption of clinical trials in the near future.