Abstract: There is disclosed a method for the treatment of immunoinflammatory conditions, such as allergy, anaphylaxis, asthma, psoriasis, inflammatory bowel disease and inflammation in mammals which comprises administering to a mammal so afflicted an effective amount of a compound having the formula: ##STR1## wherein Z is a group having the formula ##STR2## R.sup.1 and R.sup.2 are each, independently, hydrogen or lower alkyl; R.sup.3 and R.sup.4 are each, independently, hydrogen, alkyl of 1-20 carbon atoms, halo, halo lower alkyl, halo lower alkoxy, lower alkoxy, halo lower alkylsulfonyl, nitro or trifluoromethyl, where at least one of R.sup.3 and R.sup.4 is other than hydrogen;R.sup.5 is hydrogen, lower alkyl or halo;A is --CH.sub.2 --, --O-- or --S--;m is 0-10;n is 1-8;X is hydrogen, fluoro, lower alkyl or aralkyl of 7-12 carbon atoms;or a pharmacologically acceptable salt thereof.

Abstract: This invention provides an oxidized derivative of rapamycin in which the hydroxyl at the 42-position has been oxidized to the corresponding ketone or a pharmaceutically acceptable salt thereof, which by virtue of its immunosuppressive and antifungal activity is useful in treating transplantation rejection, host vs. graft disease, autoimmune diseases, diseases of inflammation, and fungal infections and a process for the preparation of this oxidized derivative of rapamycin.