The acquisition could potentially strengthen the company's oncology focus across Europe. Sales of Nipent in Europe last year were almost $5 million, with France, Germany, Greece, Italy and the UK being the key markets.
SuperGen will receive approximately $3.75 million upfront when the transaction closes. The balance of the purchase price includes $1.25 million of payments contingent on key events and the remaining $3 million is payable over a five-year period on the anniversary of the closing date.
In August 2006, Mayne Pharma acquired the North American rights to Nipent from SuperGen for $34 million. Nipent is approved for patients with hairy-cell leukemia.