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news.For the development and commercialisation of Apaziquone in Asia
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Spectrum Pharmaceuticals (Spectrum) and Nippon Kayaku have entered into an exclusive collaboration for the development and commercialisation of Apaziquone in Asia. Apaziquone is an antineoplastic agent currently being investigated for the treatment of non-muscle invasive bladder cancer by intravesical instillation.
Spectrum has previously entered into a strategic collaboration with Allergan for North America, Europe, and other key markets. These two collaborations are representative of the company’s stated objective of achieving solid strategic partnerships that are aimed at fully exploiting developmental goals for Apaziquone on a worldwide basis.
Under the terms of the agreement, Nippon Kayaku is expected to pay Spectrum an upfront payment of $15m and will make additional payments of up to $136m based on the achievement of certain regulatory and commercialisation milestones.
Nippon Kayaku has received exclusive rights to Apaziquone for the treatment of non-muscle invasive bladder cancer in Asia, including Japan and China. Nippon Kayaku will conduct the Apaziquone clinical trials pursuant to a development plan.
Moreover, Nippon Kayaku will be responsible for all expenses relating to the development and commercialisation of Apaziquone in the Nippon Kayaku territory.
Spectrum is currently conducting two Phase 3 clinical trials to investigate Apaziquone’s safety and efficacy in non-muscle invasive bladder cancer. Spectrum’s goal is to complete enrollment in both Phase 3 studies by year-end 2009.
Rajesh Shrotriya, chairman, president and CEO of Spectrum, said: “We are excited to partner Apaziquone with a strong Japanese oncology company such as Nippon Kayaku. We believe that Nippon Kayaku is a terrific strategic partner for apaziquone and for Spectrum.”
Akira Mandai, head of pharmaceuticals group of Nippon Kayaku, said: “Apaziquone is an ideal candidate to complement our portfolio of 24 anti-cancer products. We look forward to working with Spectrum in developing Apaziquone for non-muscle invasive bladder cancer.”