Biosearch Italia announces North American licensing agreement

Biosearch Italia SpA has signed a licensing agreement for North American rights to its Phase III product Ramoplanin with Genome Therapeutics Corp.

10-Oct-2001
Ramoplanin is a novel antibiotic for the prevention of bloodstream infections caused by vancomycin-resistant enterococci (VRE), an increasingly prevalent bacteria in certain at-risk groups, such as immunocompromised patients. If approved, Ramoplanin will be the first available antibiotic specifically for the prevention of VRE infection. In addition to purchasing bulk material from Biosearch, Genome Therapeutics will fund the completion of clinical trials and pay a royalty on product sales. The combined total of bulk product sales and royalties is expected to be 26% of Genome Therapeutics' net product sales. In return, Genome Therapeutics acquires exclusive rights to develop and market oral Ramoplanin in the US and Canada, and will immediately assume responsibility for the development program, currently in Phase III clinical trials. Biosearch will provide the bulk material for the manufacture of the product, and will retain rights to market Ramoplanin outside of these territories. Further, Biosearch and Genome Therapeutics have established a joint committee to coordinate efforts on the clinical development and future global commercialisation of Ramoplanin. Dr Francesco Parenti, President and Chief Scientific Officer of Biosearch, said: "This is excellent news for Ramoplanin and Biosearch. We have always believed that Ramoplanin is a promising and highly effective product, and the interest we received in the North American rights has reinforced our optimism. Genome Therapeutics has a long history of innovation in infectious disease research and understanding the genetic structures of the organisms that cause serious infection. Its commitment, experience and financial resources will ensure that Ramoplanin completes development as quickly as possible and achieves its full potential." Steven M. Rauscher, President and CEO of Genome Therapeutics, said: "Ramoplanin represents an exciting, advanced stage clinical candidate for prevention of life-threatening infections in patients at risk from VRE. This promising drug will help Genome to capitalise on its established expertise in infectious disease research and apply it to a near-term commercial opportunity." Biosearch Italia SpA is a leading Italian biotechnology company focused on the discovery, development, production and eventually marketing of new antibiotics for the treatment of infectious diseases caused by multi-resistant micro-organisms (bacteria and fungi). Genome Therapeutics is focused on the commercialisation of genomics-based pharmaceutical and diagnostic products.

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