Epix Pharmaceuticals says that it is eligible for a $500,000 milestone fee from Cystic Fibrosis Foundation Therapeutics—a nonprofit affiliate of the Cystic Fibrosis Foundation—for completing screening for small molecule drug candidates for cystic fibrosis. Lexington, MA-based Epix (NASDAQ:[[ticker:EPIX]]) is searching for drugs to target a mutated form of the cystic fibrosis transmembrane conductance regulator ion channel, which is believed to play a role in the lung infections and digestive problems that can cause premature death in patients with the rare genetic disease. The firm reports that the milestone fee would bring the total milestone payments it has garnered under its agreement with the CF Foundation to $5 million.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
View all posts by Ryan McBride
