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news.Irish pharmaceutical company SuperGen has signed a definitive agreement to sell the rights to its anticancer agents mitomycin and paclitaxel to Intas Pharmaceuticals for $1.2 million.
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SuperGen will receive $600,000 shortly after signing with the balance due at the time of product transfer later this quarter. SuperGen will also sell for additional consideration certain related inventory with the transaction. Additional non-core assets may be divested later this year.
Both products were part of SuperGen’s initial corporate strategy to move into the commercial oncology market through generic products and then transition into propriety markets as products were approved. SuperGen is currently developing a number of therapeutic anticancer products focused on inhibitors of aurora-A, tyrosine kinase and DNA methyltransferase.