Under the agreement, Handok is receiving the rights to apaziquone for the treatment of nonmuscle invasive bladder cancer in South Korea. The pharmaceutical firm will conduct the clinical trials for the drug and will be responsible for all expenses regarding its commercialization and development in the region.
“Apaziquone is a strategic fit for Handok,” says company CEO and Chairman Young-Jin Kim. “Urology is one of the areas where we are trying to expand and we believe Spectrum’s apaziquone will strengthen our presence in the field."
Nonmuscle invasive bladder cancer affects about 70 percent of patients diagnosed with the disease, according to stats cited by Spectrum. The commercial-stage biotech firm is currently conducting two phase-three clinical trials for the drug's safety and efficacy in treating the disease. The firm's goal is to complete enrollment in both studies by the end of the year. << PREVIOUS PAGE