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TAXIS Pharmaceuticals is a virtual company, and will remain so until it is strategically and financially advantageous to significantly expand internal operations. It is anticipated that this inflection point will be coincident with achievement of proof-of-concept in vivo animal efficacy studies. Since its inception, TAXIS Pharmaceuticals has therefore relied upon partnerships and collaborations to forward its early-stage discovery and development initiatives.
Rutgers University and the University of Medicine and Dentistry of New Jersey (UMDNJ)
In September of 2009, TAXIS Pharmaceuticals executed two-year cooperative research agreements with both Rutgers University and UMDNJ to enable discovery and development at laboratories on University campuses. The agreements provide for termination upon the first anniversary, should TAXIS Pharmaceuticals require a scaling of operations at that time.
Commercialization Center for Innovative Technologies (CCIT)
Located in a NJEDA Development Zone on Route 1 South in North Brunswick, the CCIT offers start-up pharmaceutical and related life sciences companies reduced-rate laboratory and office leasing opportunities, along with operational support and access to state financing.
In August of 2009, TAXIS Pharmaceuticals’ application to lease laboratory space at CCIT was approved. While TAXIS Pharmaceuticals decided to pursue cooperative research relationships with Rutgers and UMDNJ in lieu of establishing its operations at CCIT, it is in the process of exploring leasing opportunities with CCIT in 2H, 2010.
To increase its throughput and reduce chemical discovery cycle time, TAXIS Pharmaceuticals has commissioned outsourced production of bulk intermediates through both US and international suppliers. These relationships afford TAXIS Pharmaceuticals a cost-effective and efficient enhancement of its internal synthetic capabilities.
TAXIS Pharmaceuticals has also engaged loco-regional chemistry laboratory services to micro-scale targeted compounds, thereby freeing up internal capacity to focus on our core competency of design and discovery. These outsourced relationships significantly expand our production of potential lead candidates and enable robust preclinical biology and toxicology evaluation in vitro and in vivo.
TAXIS Pharmaceuticals has vetted numerous CROs to identify best-in-class suppliers available for its anticipated GMP/GLP toxicology evaluations of its lead candidates. The Company is prepared to move quickly in executing rigorous pre-IND development once a lead is identified.
TAXIS Pharmaceuticals has secured seed funding from private investors to support proof-of-concept in vivo efficacy studies of its lead series of drug candidates. It is anticipated that a follow-on round of private investments will be undertaken in 2H, 2010 to forward the MRSA/VRE preclinical development efforts, while also expanding the discovery work on our five subsequent proprietary series of compounds currently on the bench.
TAXIS Pharmaceuticals has secured exclusive worldwide rights to develop, market, and sell the technology, which is jointly owned by UMDNJ and RutgersUniversity. A current listing of the TAXIS patent estate is as follows:
- Heterocyclic Antimicrobial Agents – PCT/US2010/021237 – Filed: January, 15, 2010
- Antimicrobial Agents – PCT/US2010/033278 – Filed: April 30, 2010
- Antimicrobial Agents – 61/353,107 – Filed: June 9, 2010
- Antimicrobial Agents – 61/355,408 – Filed: June 16, 2010
- Antimicrobial Agents – 61/358,759 – Filed: June 25, 2010
- Antimicrobial Agents – 61/360,795 – Filed: July 1, 2010
The licensing agreement with the two Universities provides for downstream milestone payments triggered only after commercial success milestones, royalties on net sales revenues, and an equity stake in TAXIS Pharmaceuticals.