LPOXY Therapeutics Inc, a US-based clinical-stage biopharmaceutical company, announced on Friday that it has signed a term sheet to acquire chosen assets from Xeno Biosciences Inc, a US-based biotechnology company developing a novel class of treatments for metabolic diseases.

The assets include regulatory filings, correspondence and documentation from the US Food and Drug Administration (FDA) and global regulatory interactions, as well as comprehensive CMC data. LPOXY says that it will benefit from ownership of data generated in Xeno's Phase I and Ib clinical trials, which validates the safety of the Active Pharmaceutical Ingredient shared by Xeno's and LPOXY's drug products. Additionally, LPOXY will acquire Xeno's intellectual property portfolio. In exchange, Xeno will become a shareholder in LPOXY Therapeutics and may receive milestone payments totalling up to USD7.5m. Dennis Kim, Xeno Biosciences MD, CEO, will join LPOXY's board of directors.

LPOXY is to utilise these assets to advance SIDIPREV, a novel therapy aimed at preventing Clostridioides difficile infections in hospitalised patients receiving antibiotic treatment. The company is planning to commence a Phase II study under the FDA's Limited Population Pathway for Antibacterial and Antifungal Development (LPAD). The LPAD pathway is aimed at accelerating the development of therapies for serious, life-threatening infections in limited populations with unmet medical requirements.