NEW DELHI : Drug major Cipla Monday said it has inked a pact with Pulmatrix Inc to co-develop a formulation for the treatment of allergic bronchopulmonary aspergillosis (ABPA) in patients with asthma.

Cipla Technologies LLC, a subsidiary of the company, and Pulmatrix Inc have inked definitive agreement for the co-development and commercialisation of Pulmazole, the Mumbai-based firm said in a regulatory filing.

Pulmazole an inhaled iSPERSE formulation of the antifungal drug itraconazole for the treatment of allergic bronchopulmonary aspergillosis (ABPA) in patients with asthma, it added.

As per the pact, Cipla Technologies will make an upfront payment of $22 million to Pulmatrix in exchange for assignment of all rights for Pulmazole in relation to pulmonary indications.

Thereafter, both parties will equally share costs related to the future development and commercialisation of Pulmazole, and equally share worldwide free cash flow from future sales of Pulmazole, the statement said.

Pulmatrix will remain primarily responsible for the execution of the clinical development of Pulmazole, and Cipla Technologies will be responsible for the commercialisation of the product, it added.

The partnership will be overseen by a joint steering committee with equal representation from both companies, it said.

"Pulmazole will be Cipla's entry into the branded respiratory space and will serve a vital unmet medical need for the treatment of ABPA, a condition that possibly impacts over 2 million patients worldwide but has no labelled drug," Cipla MD and Global CEO Umang Vohra said.

Pulmatrix CEO Robert W. Clarke said: "Cipla's expertise in respiratory drug development and manufacturing strengthens our development programme, while its global commercialisation experience and footprint will enable us to bring this novel therapeutic option to patients suffering from ABPA."