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news.Spectrum Pharmaceuticals has filed a claim alleging that GPC Biotech has violated their license agreement concerning satraplatin, an oral platinum drug for cancer.
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Spectrum filed a demand for arbitration and statement of claims with the American Arbitration Association. Spectrum said the demand was a response to GPC Biotech excluding Spectrum from its rightful participation in sublicense fee income.
According to Spectrum, GPC Biotech breached the license agreement by structuring its co-development and license agreement with Pharmion to evade financial obligations. Specifically, GPC Biotech owes Spectrum a percentage of fees that GPC Biotech receives from any sublicensee, including Pharmion. In total Spectrum believes it is owed $12 million.
Spectrum also claims that GPC Biotech failed to use commercially reasonable endeavors to obtain regulatory approvals and to promote the distribution of satraplatin in Japan.
Spectrum believes the breaches provide a basis for termination of the agreement. If the license agreement is terminated, GPC Biotech would be required to transfer to Spectrum all rights to satraplatin, including the sublicense agreement.
In response to Spectrum’s statement, CEO of GPC Biotech Bernd Seizinger said the claims were “completely baseless and without merit.”
GPC Biotech said it would continue its new drug application filing for satraplatin in the US by the end of January with its partner Pharmion.