Apoxis Acquires Worldwide Rights for Novel Anti-Cancer Compound from Astellas Pharma

19-Dec-2005

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.

https://www.bionity.com/en/news/50936/apoxis-acquires-worldwide-rights-for-novel-anti-cancer-compound-from-astellas-pharma.html