CytoMed Inc. and Grelan Pharmaceutical Co. Ltd. finalized a licenseand development agreement that gives Grelan rights to CytoMed'slead compound in Japan and other Asian countries.

Privately held CytoMed, of Cambridge, Mass., received anundisclosed equity investment from the Tokyo-based pharmaceuticalcompany for the rights to CMI-392, a compound in Phase I trials forthe topical treatment of inflammation-related skin disorders.

CMI-392 is from CytoMed's dual function inhibitor program. Thecompound is designed to inhibit both leukotrienes and plateletactivating factor, a combination company officials said could providea novel alternative to steroid treatment.

Michael Fitzgerald, CytoMed's chief financial officer, told BioWorldthe company initially is looking at CMI-392 for psoriasis and atopicdermatitis. He said Grelan will fund half the future work as it relatesto gaining approval in Japan, and the two companies will share data.

A Phase I trial of CMI-392 has been completed in the U.K. andanother is being planned, Fitzgerald said.

CytoMed is "investigating other partnerships with otherpharmaceutical companies for our dual function inhibitor program,"he said. Separately, CytoMed has an ongoing collaboration withChiron Corp., of Emeryville, Calif., involving complement inhibitors._ Jim Shrine

(c) 1997 American Health Consultants. All rights reserved.