Aphton Announces Mutual Agreement to Dissolve Co-Promotion and Licensing Agreement Related to Anti-Cancer Product Insegia(TM)
Dissolution Allows for New Partnership Opportunities and Further Development of Insegia in Gastric Cancer
Aphton Corporation announced that it has entered into a mutual decision and agreement to terminate the co-promotion and licensing agreement with sanofi pasteur related to Aphton's lead immunotherapy compound, Insegia(TM) (G17DT immunogen). The agreements related to the co-promotion, licensing and supply of Insegia will be terminated effective immediately.
The original agreements, signed in 1997, were related to the development, manufacturing and co-promotion rights for all human cancer applications of Insegia, including stomach, esophageal, colorectal, and pancreatic cancers. Under the terms of the agreement, Aphton was to be responsible for product development, clinical trials and regulatory filings, and sanofi pasteur was to be responsible for the promotion, advertising, marketing, distribution and sales of Aphton's anti-gastrin vaccine in North America and Europe. In addition, Aphton and sanofi pasteur had entered into agreements providing for the supply of diphtheria toxoid, a key component of Insegia.
"By dissolving these agreements and regaining essentially unencumbered worldwide rights to Insegia we are in a better position to find a new corporate partner with the goal of furthering the development of Insegia, specifically as a therapeutic option for patients with gastric cancer. Up until this point any discussions we have had with potential partners have been limited," commented Patrick Mooney, MD, Chairman and Chief Executive Officer of Aphton.
Other news from the department business & finance
