Pozen is launching two Phase III trials of its potential migraine treatment called Trexima, and the result is a big payday for the Chapel Hill firm.

GSK, which signed a partnership agreement with Pozen last year, is to pay Pozen $15 million as a milestone payment.

The trials are to begin immediately, according to Pozen. The company called the trials “pivotal.” They are to determine the effectiveness and safety of Trexima.

The companies said they hope to file a new drug application by the second half of 2005.

“Moving into Phase III is a major step in the development of this important new medicine,” said Stan Hull, GSK senior vice president, US Pharmaceuticals, in a statement. “GSK has long been a leader in discovering and developing migraine treatments, and we are pleased to be working with Pozen to move Trexima into the final stage of development.”

Trexima includes Pozen’s own MT 400 technology.

The two companies are collaborating in development of compounds that include triptans and non-steroidal anti-inflammatory drugs. Pozen handles the clinical trials and regulatory developments while GSK pursues formulation development, manufacturing and commercialization.
Pozen (Nasdaq: POZN) stock was up 32 cents just before the market close at $10.92 but hit a high of $12.04 earlier in the day.

Pozen: www.Pozen.com