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news.Alfacell Corporation has entered into a license agreement with Strativa Pharmaceuticals, the proprietary products division of a wholly owned subsidiary of Par Pharmaceutical Companies, for the commercialization of Onconase in the US.
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Under the terms of the agreement, Strativa will have exclusive marketing, sales and distribution rights to Onconase for the treatment of cancer in the US and its territories. Alfacell will retain all rights and obligations for product manufacturing, clinical development and obtaining regulatory approvals, as well as all rights for non-US jurisdictions where Alfacell does not currently have Onconase partnerships. Joint oversight committees with members from Alfacell and Strativa will manage the alliance.
This agreement could provide Alfacell with up to $225 million in cash milestones plus additional non-dilutive funding, including an initial payment upon signing of $5 million in cash and up to $30 million in cash upon FDA approval of Onconase for unresectable malignant mesothelioma.