Genentech returns rights to Inspire

DNA returned to ISPH rights to P2Y2 agonist compounds to treat respiratory disorders from a 1999 agreement. ISPH, which has received more than $16 million in equity investments and cash from the deal, said the decision to return the rights was based on strategic review by DNA of its development portfolio. One of the compounds returned includes INS365 Respiratory for chronic bronchitis. Patient enrollment in a Phase II study of the compound was suspended in April in order to assess design issues after the companies received feedback from trial sites that the study protocol was burdensome (see BioCentury, April 30). Analysis of data from patients who continued treatment is expected in the next several weeks. Another returned compound, INS37217 Respiratory, is in Phase I/II testing for cystic fibrosis. Phase I testing of the compound for sinusitis is expected to begin in the third quarter. ISPH, which had $72 million in cash at March 31, said it has the resources to move these programs forward. ISPH was down $2.96 (21%) to $11.45 and DNA was up $3.24 to $55.78 on Wednesday. ...