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news.Allergan, a multi-specialty health care company, and Spectrum Pharmaceuticals, a biopharmaceutical company, have signed an exclusive collaboration for the development and commercialization of apaziquone, an antineoplastic agent currently being investigated for the treatment of non-muscle invasive bladder cancer by intravesical instillation.
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Under the terms of the agreement, Allergan will pay Spectrum $41.5 million at closing and will make additional payments of up to $304 million based on the achievement of certain development, regulatory and commercialization milestones.
Spectrum has retained exclusive rights to apaziquone in Asia, including Japan and China. Allergan received exclusive rights to apaziquone for the treatment of bladder cancer in the rest of the world, including the US, Canada and Europe. In the US, Allergan and Spectrum will co-promote apaziquone and share in its profits and expenses.
Allergan will also pay Spectrum royalties on all of its apaziquone sales outside of the US. Spectrum will continue to conduct the apaziquone clinical trials pursuant to a joint development plan, with Allergan bearing the majority of these expenses.
Spectrum is currently conducting two Phase III clinical trials to explore apaziquone’s safety and efficacy as a potential treatment for non-muscle invasive bladder cancer following surgery. Spectrum expects to complete enrollment by year-end 2009.
David Pyott, chairman of the board and CEO of Allergan, said: “Allergan looks forward to working with Spectrum in developing novel treatments for bladder cancer, and we believe apaziquone, if approved, has the potential to represent a meaningful advancement to urologists and patients in the current bladder cancer treatment paradigm.”