Pharmaxis Ltd. is a pharmaceutical research company, which engages in the development and commercialization of therapeutic products for chronic respiratory disorders, autoimmune diseases, and improved lung function test. It operates through the following segments: Mannitol Business and New Drug Development. The Mannitol Business segment covers the clinical development, manufacture and sale of Bronchitol and Aridol globally. The New Drug Development segment encompasses the drug discovery and early stage clinical development of the group's new drug candidates. The company was founded by Brett Charlton and William B. Cowden on May 29, 1998 and is headquartered in Sydney, Australia.