Indevus originally licensed worldwide rights to aminocandin from Sanofi-Aventis in 2003. Aminocandin is a member of the echinocandin class of anti-fungal compounds for the treatment of a broad spectrum of systemic, invasive infection.
The terms of the agreement provide Indevus with an up front payment of $1.5 million, a payment of $2 million upon initiation of phase II clinical trials, potential milestones totaling an additional $41 million and royalties on all future sales of aminocandin. Additionally, Indevus will be relieved from making significant milestone and royalty payments to its licensor. Novexel will be responsible for all future development, manufacturing and commercialization activities and costs.
“Novexel, having been created out of the anti-infective unit of Sanofi-Aventis, is solely focused on developing compounds such as aminocandin and therefore the product is a perfect fit into their portfolio,” said Glenn Cooper, CEO and chairman of Indevus.
Indevus commenced multi-dose phase I studies of aminocandin in October 2004 and showed a favorable pharmacokinetic and systemic safety profile, but the study was subsequently interrupted due to observed cases of local vein irritation. Indevus said it has since developed new formulations that may overcome this issue.