PHARMACEUTICALS
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Spectrum Pharmaceuticals moves forward with bladder cancer drug
Irvine firm is working with Nippon Kayaku to develop apaziquone in Asia.
By Kristen SchottPublished: November 10, 2009 09:47 AM
Irvine-based Spectrum Pharmaceuticals is collaborating with Nippon Kayaku, a Tokyo-based general chemical firm, to develop and commercialize Spectrum's nonmuscle invasive bladder cancer therapy, apaziquone, in Asian territories.
The total value of the agreement is more than $151 million, and Spectrum will receive $15 million from Nippon Kayaku upfront. Nippon will make additional payments of up to $136 million if certain regulatory and commercial achievements are met.
This is the second collaboration the commercial-stage biotech firm has entered into for the drug. Spectrum is also working with Irvine-based Allergan to market apaziquone in North America and Europe, among other areas. The partnerships help to support Spectrum's goal to develop the treatment worldwide.
“Nippon Kayaku is one of the most established and reputable pharmaceutical companies in Japan and has unparalleled experience in Asia in the field of nonmuscle invasive bladder cancer and prostate cancer," says Rajesh C. Shrotriya, M.D., chairman, CEO and president of Spectrum.
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The total value of the agreement is more than $151 million, and Spectrum will receive $15 million from Nippon Kayaku upfront. Nippon will make additional payments of up to $136 million if certain regulatory and commercial achievements are met. This is the second collaboration the commercial-stage biotech firm has entered into for the drug. Spectrum is also working with Irvine-based Allergan to market apaziquone in North America and Europe, among other areas. The partnerships help to support Spectrum's goal to develop the treatment worldwide. “Nippon Kayaku is one of the most established and reputable pharmaceutical companies in Japan and has unparalleled experience in Asia in the field of nonmuscle invasive bladder cancer and prostate cancer," says Rajesh C. Shrotriya, M.D., chairman, CEO and president of Spectrum. NEXT PAGE >> Related headlines UC Irvine sees success with embryonic stem cell therapy Aliso Viejo's OCTANe gears up for medical device forum Irvine's BlueFire gets $3.8 million for biorefinery |
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