Apoxis Acquires Worldwide Rights for Novel Anti-Cancer Compound from Astellas Pharma
Apoxis SA announced it has acquired exclusive worldwide development and marketing rights for anti-cancer compound FK866 from Astellas Pharma GmbH, Munich, Germany. Apoxis intends to initiate a series of phase II studies of the product, re-named as APO866, in 2006.
Under the terms of the agreement, Apoxis receives a worldwide exclusive license. In return, Apoxis will make an upfront payment and a series of milestone payments based on successful development and approval of APO866. Apoxis will also make royalty payments based on net sales. No further terms were disclosed.
APO866 is a first-in-class cancer drug with a novel mechanism of action that selectively depletes a cancer cell's energy, leading to apoptotic death in cancer cells, and exerts anti-angiogenic activity. A phase I study in the US and Germany established that the drug was safe and well-tolerated in patients with advanced cancer. This, combined with preclinical efficacy results, provides a strong platform for further development of APO866. Apoxis intends to initiate three phase II clinical studies in 2006.
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