Cambridge, MA-based Resolvyx Pharmaceuticals said yesterday that Celtic Therapeutics has exercised its option to buy its lead drug, RX-10045, for treating dry eye and other eye diseases. Financial details of the deal weren’t disclosed. The two companies revealed the option agreement in October 2010. Celtic, which has offices in New York in Lausanne, Switzerland, plans to advance the drug into Phase III clinical trials later this year. Resolvyx is developing small molecule derivatives of omega-3 fish oils for treating multiple diseases, and it says it will continue this work outside of the field ophthalmology.
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.
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