French biotech company NicOx has seen its shares lose nearly 25% of their value after AstraZeneca abandoned a joint venture to development the new CINOD class of painkillers

NicOx have had to buy back the rights to the two drugs currently in development  AZD3582 and AZD4717 and says it will press on with phase III trials.

The ending of the alliance comes after months of wrangling between the two companies over the drug, with NicOx claiming that AstraZeneca design of the trial was faulty, which the Anglo-Swedish company denied.

AstraZenecas initial query came after Phase II trial data sets showed the lead product AZD3582 had failed to demonstrate reduction in ulcers, a key clinical advantage that would have set it apart from established painkillers.

NicOx maintains that the drug had proved its efficacy, gastric tolerability and cardiovascular safety in its clinical trials involving more than 3,000 patients.

AstraZenecas decision now forces NicOx to look for another partner to bring CINOD to market

Michele Garufi, Chief Executive of NicOx said: Although surprised by the strategic decision of AstraZeneca to discontinue the programme on CINODS, we remain fully convinced of the potential of this class and we are confident of attracting new partners for these compounds.

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