Dec 13 2009
ChemGenex Pharmaceuticals Limited (ASX:CXS) and Hospira, Inc. (NYSE:HSP)
announced today that they have entered into an exclusive agreement to
license, develop and commercialize ChemGenex’s product candidate
omacetaxine mepesuccinate, a novel targeted cytotoxic pharmaceutical
product, in Europe, the Middle East and parts of Africa (the Territory).
Applications for marketing approval of the product have been accepted
for regulatory review in both the United States and Europe for treatment
of patients with chronic myeloid leukemia (CML) who have failed to
respond to the current standard of care treatment, imatinib mesylate,
and who have the Bcr-Abl T315I mutation.
Under the terms of the agreement, Hospira will make an initial payment
of €11.1 million (A$ 17.8 million), with the potential for up to an
additional €74.1 million (A$ 119.4 million), in performance milestone
payments based on the successful development and commercialization of
omacetaxine. In addition, following successful commercialization,
Hospira will pay ChemGenex a royalty on product sales in the Territory.
ChemGenex will complete registration of omacetaxine in its initial
indication with the European Medicines Agency (“EMEA”), while Hospira
and ChemGenex will collaborate to explore future applications in a
variety of hematological malignancies. Hospira will have responsibility
for commercializing omacetaxine in the Territory.
"We are very excited by the promise omacetaxine holds to improve
outcomes for seriously ill patients who have stopped responding to other
treatments available for their condition," said Michael Kotsanis,
President Europe, Middle East and Africa, Hospira, Inc. "This agreement
is a further step in Hospira's strategy to build upon our strong
portfolio of oncology and hematology products."
"We are very pleased to announce this important agreement, in keeping
with our corporate strategy of partnering in Europe and other parts of
the world, as we prepare for the launch of omacetaxine in the U.S., if
approved," said Greg Collier, CEO and Managing Director ChemGenex. "We
look forward to working with the Hospira team to realize omacetaxine’s
potential in the hematology-oncology space in Europe."
http://www.chemgenex.com/
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