Oasmia Pharmaceutical Announces Strategic Move to Bolster Efforts for its Veterinary Division
January 23 2017 - 7:00AM
Uppsala, January 23, 2017 – Oasmia Pharmaceutical AB (NASDAQ:
OASM), a developer of a new generation of drugs within human and
veterinary oncology, today announced that it plans to move all of
the Company’s veterinary assets including Paccal Vet and Doxophos
Vet, to the United States for further development and
commercialization efforts.
The development of veterinary oncology technologies has been of
great significance to Oasmia’s product development over the years
and the Company has some of the first products in this segment. The
Company possesses two key products within the field of chemotherapy
for companion animals for which they own worldwide distribution
rights, with exception for Japan:
- Paccal Vet is a patented formulation of the
well-known substance paclitaxel and XR17. There is currently no
pharmaceutical Taxol© comparison to Paccal Vet in veterinary
medicine. Veterinarians generally use drugs designed for humans by
adapting the dosage levels for animals. It has not been feasible to
give Taxol© to dogs due to severe adverse effects. Paccal Vet-CA1
has previously received conditional approval from the FDA for the
treatment of non resectable stage III, IV or V mammary carcinoma in
dogs that have not previously received chemotherapy or radiotherapy
and for the treatment of resectable and non resectable squamous
cell carcinoma in dogs that have not received previous chemotherapy
or radiotherapy in the USA. Furthermore, the product also has MUMS
designation for the treatment of non resectable Grade II and III
mast cell tumors in dogs that have not received previous therapy
except for corticosteroids.
- Doxophos Vet, a patented formulation of
doxorubicin and Oasmia’s patented XR17 technology, is currently
under development for the treatment of lymphoma, the most common
cancer in dogs. Doxophos Vet has been granted MUMS designation by
the FDA for the treatment of lymphoma in dogs. The product
candidate is presently in clinical Phase II/dose confirmation
trial.
The Company’s key objective within veterinary medicine is to
successfully transition the products on a broader scale to a larger
number of veterinary clinics.
Prior to this announcement, Paccal Vet-CA1 has been available to
a limited number of oncology specialists. Oasmia anticipates that
changing the treatment regime by lowering the dose to reduce side
effects and improve comfort for companion animals, the product will
become far more attractive to veterinarians and pet owners. In
order to achieve this goal, the Company has withdrawn its current
label which is conditionally approved and plan to initiate a new
study confirming the changed dosing regimen. The Company plans a a
proof of concept/dose intensity study. The clinical program with
Doxophos Vet is ongoing, with the expectation to communicate the
results from a proof of concept study during the spring of
2017.
In order to provide an ideal environment for Oasmia’s veterinary
division to successfully achieve strategic development and
collaborations, all rights for Paccal Vet and Doxophos Vet intents
to be transferred to the fully owned subsidiary in the United
States.
With approximately 42,000 general veterinary practitioners in
the United States and 2,500 entering the job force each year,
Oasmia has identified tremendous market opportunity for Paccal Vet
and Doxophos Vet. Small animal (dog and cat) medicine(s) represent
the bulk of the approximately $16 billion market for pet treatment
products, a number that has nearly doubled since 2001. By reducing
side effects and making the treatment more appealing to general
practitioners, Oasmia believes it can garner significant market
share as the industry continues to expand.
These strategic changes are expected to be implemented during
2017.
Notes to editors:
About Oasmia Pharmaceutical AB Oasmia
Pharmaceutical AB develops, manufactures, markets and sells new
generations of drugs in the field of human and veterinary oncology.
The company’s product development aims to create and manufacture
novel nanoparticle formulations and drug-delivery systems based on
well-established cytostatics which, in comparison with current
alternatives, show improved properties, reduced side-effects, and
expanded applications. The company’s product development is based
on its proprietary in-house research and company patents. Oasmia is
listed on NASDAQ Capital Markets (OASM.US), Frankfurt Stock
Exchange (OMAX.GR, ISIN SE0000722365) and NASDAQ Stockholm
(OASM.ST).
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press@oasmia.com
For Media Inquiries:
Eric Fischgrund
eric@fischtankpr.com
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