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news.GTx and Ipsen have jointly decided to terminate their Toremifene development and commercialization pact.
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The reason behind the termination of the agreement is the impact of the cost of second Phase III clinical trial on the business prospects for their collaboration.
Toremifene 80mg has been developed by GTx to reduce the risk of fractures in men with prostrate cancer who are receiving androgen deprivation therapy.
Under the pact, in exchange for returning to GTx Ipsen’s rights, Ispen is entitled to get a low single digit royalty on future net sales of Toremifene 80mg in the US if the product candidate is commercialized.