Mayne acquires Supergen's North American oncology products

26-Jun-2006

Mayne Pharma Limited and SuperGen, Inc. have signed a definitive agreement for Mayne Pharma to acquire the North American rights to Nipent® (pentostatin for injection) and SurfaceSafe(TM) from SuperGen, Inc. for a total maximum consideration of US$34 million inclusive of approximately US$14 million upfront at signing. The remaining payments are contingent on key events and product performance. The proposed transaction is subject to customary closing conditions.

Nipent® is a treatment approved for patients with hairy cell leukemia and SurfaceSafe(TM) is a two step, towelette system to decontaminate surfaces where chemotherapy is mixed or administered.

Commenting on the acquisition today, Mayne Pharma's Chief Executive Officer and Managing Director Dr Thierry Soursac said, "A key element of Mayne Pharma's new strategy, presented last month, is to acquire niche marketed or close-to-market proprietary products that strengthen our oncology focus and leverage our development, manufacturing and marketing capabilities. The addition of Nipent®, therefore, fits our strategy perfectly, building on our core oncology capability, particularly in the important US market. In addition, since Nipent® is a proprietary product, this transaction will raise Mayne Pharma's profile with key customers and opinion leaders, further strengthening our position."

Under the terms of the proposed transaction, Mayne Pharma will acquire all product rights, patents, registrations, trademarks, inventories and relevant supplier and customer contracts related to Nipent® in North America and SurfaceSafe(TM). The parties are working towards completing additional agreements for the acquisition of mitomycin, a cytotoxic cancer therapeutic, for the US market as well as any SuperGen rights to these products outside of the United States.

https://www.bionity.com/en/news/55788/mayne-acquires-supergen-s-north-american-oncology-products.html