FAAH Pharma debuts with deal, financing

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) granted newco FAAH Pharma Inc. (Montreal, Quebec) exclusive, worldwide rights to IPI-940, an oral fatty acid amide hydrolase (FAAH) inhibitor. In 2015, FAAH Pharma plans to start a Phase IIa trial to treat postherpetic neuralgia (PHN).

FAAH Pharma also received an undisclosed investment from TVM Capital's TVM Life Science Ventures VII fund. In addition, FAAH Pharma said it will use the Chorus virtual drug development group of Eli Lilly and Co. (NYSE:LLY) to develop IPI-940. Eli Lilly invested in the TVM fund and created a Canadian branch of its Chorus unit to work with TVM portfolio companies. TVM's Cynthia Lavoie will join FAAH Pharma's board (see BioCentury, June 4, 2012). ...