The inhaled INV104 has been coined as a potential new treatment for asthma, which is estimated to afflict 300 million people worldwide.
The global market for asthma therapeutics is more than $22 billion per annum.
The compound already exists but is now being reformulated for inhalation. Hovione Scienta has collaborated with Invion to develop the proprietary novel technology, which is a dry powder formulation of the compound delivered by an inhaler.
Hovione will provide expertise on chemistry, particle engineering, formulation, device and GMP manufacturing, while IVX will oversee all non-clinical and clinical development, and remain responsible for regulatory submissions.
This trajectory for growth comes as IVX has received agreement from the FDA to proceed in accelerated development of the new formulation and device.
IVX CEO and managing director Greg Collier says, both medically and commercially, the new method is superior.
"We are reformulating this compound for inhalation and remain confident that delivering this compound directly into the lung in this manner will provide superior benefit and bypass any problems associated with systemic delivery," says Collier.
"Hovione is the right partner to help us capitalise on this highly promising commercial opportunity."
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