Orexo has announced that Boehringer Ingelheim has decided to return the OX-MPI project to Orexo.
The project aims to develop products based on specific inhibition of prostaglandin E2 (PGE2) in different disease conditions. Since 2005, Boehringer Ingelheim has been responsible for all research and development within the project.
Orexo will evaluate the results from Boehringer Ingelheim. When this is completed, Orexo will make a final decision on the potential to continue the project with a new external partner. The company further states that the return of OX-MPI from Boehringer Ingelheim has no direct impact on the financial position of Orexo. The OX‑MPI project is associated with an intangible fixed asset of MSEK 62 from the acquisition of Biolipox and this asset will be impaired if a final decision is taken to discontinue the project.
Orexo has not stated any further explanation to Boehringer Ingelheim’s decision to return the project.