Sucampo to Return All Licenses for Unoprostone Isopropyl to R-Tech Ueno
March 09 2015 - 2:40AM
Sucampo Pharmaceuticals, Inc. (Sucampo) (Nasdaq:SCMP), a global
biopharmaceutical company, today announced it will immediately
return all licenses for unoprostone isopropyl to R-Tech Ueno, Ltd.
(RTU). These licenses had provided Sucampo with exclusive
development and commercialization rights to unoprostone isopropyl
globally except for Japan, People's Republic of China, Taiwan and
Korea and covered certain indications, including the lowering of
intraocular pressure in patients with open-angle glaucoma or ocular
hypertension, retinitis pigmentosa and geographic atrophy.
"We are focused on the continued evaluation and prioritization
of our pipeline," said Peter Greenleaf, Chief Executive Officer of
Sucampo. "Following our exit from commercialization activities for
RESCULA® (unoprostone isopropyl) last year and an analysis of
preliminary top-line data from RTU's Phase 3 trial of unoprostone
isopropyl in retinitis pigmentosa, we have concluded not to
continue development of the compound. We believe that the most
effective way to increase shareholder value is by prioritizing
those development programs for which we see the most significant
potential. These include lifecycle management for AMITIZA, which is
our highest priority program and includes a series of Phase 3
trials in pediatric functional constipation and a new formulation
of the product in adults and pediatrics, as well as cobiprostone,
which is being evaluated for non-erosive reflux disease and oral
mucositis. We are also committed to the diversification of our
pipeline beyond prostones and are actively assessing new
therapeutic areas and targets both early and mid- to
late-stage."
About Sucampo Pharmaceuticals, Inc.
Sucampo Pharmaceuticals, Inc. is focused on the development and
commercialization of medicines that meet major unmet medical needs
of patients worldwide. Sucampo has one marketed product – AMITIZA®
– and a pipeline of drug candidates in clinical development. A
global company, Sucampo is headquartered in Bethesda, Maryland, and
has operations in Japan, Switzerland and the United Kingdom. For
more information, please visit www.sucampo.com.
The Sucampo logo is the registered trademark and the tagline,
The Science of Innovation, is a registered trademark of Sucampo
AG. AMITIZA is a registered trademark of Sucampo AG.
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Sucampo Forward-Looking Statement
This press release contains "forward-looking statements" as that
term is defined in the Private Securities Litigation Reform Act of
1995. These statements are based on management's current
expectations and involve risks and uncertainties, which may cause
results to differ materially from those set forth in the
statements. The forward-looking statements may include statements
regarding product development, product potential, future financial
and operating results, and other statements that are not historical
facts. The following factors, among others, could cause actual
results to differ from those set forth in the forward-looking
statements: the impact of pharmaceutical industry regulation and
health care legislation; the ability of Sucampo to develop and
commercialize existing and pipeline products; Sucampo's ability to
accurately predict future market conditions; dependence on the
effectiveness of Sucampo's patents and other protections for
innovative products; the risk of new and changing regulation and
health policies in the U.S. and internationally; the effects of
competitive products on Sucampo's products; and the exposure to
litigation and/or regulatory actions.
No forward-looking statement can be guaranteed and actual
results may differ materially from those projected. Sucampo
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events,
or otherwise. Forward-looking statements in this presentation
should be evaluated together with the many uncertainties that
affect Sucampo's business, particularly those mentioned in the risk
factors and cautionary statements in Sucampo's most recent Form
10-K as filed with the Securities and Exchange Commission on March
12, 2014 as well as its filings with the Securities and Exchange
Commission on Form 10-Q and 8-K, which Sucampo incorporates by
reference.
CONTACT: Sucampo Pharmaceuticals, Inc.
Silvia Taylor
Senior Vice President, Investor Relations
and Corporate Communications
1-240-223-3718
staylor@sucampo.com
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