SymBio Pharmaceuticals and Eisai Sign License Agreement for bendamustine hydrochloride (SyB L-0501)

19-Aug-2008 - Japan

SymBio Pharmaceuticals Limited. and Eisai Co., Ltd. announced that the companies have concluded the license agreement for the co-development and commercialization of bendamustine hydrochloride in Japan, with exclusive rights retained by SymBio.

Based on this agreement, SymBio shall grant co-development and exclusive commercialization rights to Eisai and, in return, receive upfront and development milestone payments of up to 4 billion yen in total. In addition, the companies plan to move forward with the development of several target indications through co-development.

In Germany, bendamustine hydrochloride has been used extensively for the treatment of non-Hodgkin's lymphoma, multiple myeloma and chronic lymphocytic leukemia. The drug has been on the market in the United States since April of this year after receiving FDA approval in March 2008 for the treatment of chronic lymphocytic leukemia. In Japan, bendamustine hydrochloride is currently being investigated in patients with low-grade non-Hodgkin's lymphoma, and is in the pivotal stage of clinical development prior to submission for approval.

In a collaborative effort to address unmet medical needs, SymBio and Eisai will work in tandem to expedite the development of bendamustine hydrochloride so that it will be available for use by patients and healthcare professionals in Japan as early as possible.

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