Progenics and Curium Announce European Collaboration for Prostate Cancer Imaging Agent PyL™
January 03 2019 - 1:30AM
Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX), an oncology company
developing innovative medicines and imaging analysis technology for
targeting and treating cancer, and Curium today announced an
exclusive agreement to develop and commercialize PyL in Europe. PyL
is Progenics’ PSMA-targeted small molecule PET/CT imaging agent
designed to visualize prostate cancer currently in Phase 3
development.
Under the terms of the collaboration, Curium
will receive an exclusive license to develop and commercialize PyL
in Europe. Curium will be responsible for the development,
regulatory approvals and commercialization of PyL in the covered
territory. Progenics is entitled to royalties on net sales of
PyL.
“Curium is a world-class leader in nuclear
medicine and an ideal partner for PyL, with the infrastructure,
commercial footprint and experience in prostate cancer to position
PyL for success in Europe,” stated Mark Baker, CEO of Progenics.
“This collaboration accelerates development of PyL in this
important market, while we focus our internal efforts on advancing
our Phase 3 CONDOR trial and laying the groundwork for
commercialization in the United States.”
Curium will meet with European regulators in the
first half of 2019 to agree upon the regulatory path forward in the
territory.
“PyL is a promising prostate cancer imaging
agent in development today, and we are thrilled to add this
superior product to our broad portfolio of nuclear medicine
diagnostics,” stated Renaud Dehareng, Curium CEO. “PyL has the
potential to detect small lesions, offering significant advantages
over existing products and others in development. We look forward
to leveraging our success with 18F-Choline in prostate cancer to
advance the development and commercial uptake of this
next-generation product.”
About PyL™ for PET Imaging of
Prostate Cancer
PyL (also known as 18F-DCFPyL) is a fluorinated
PSMA-targeted Positron Emission Topography (“PET”) imaging agent
that enables visualization of both bone and soft tissue metastases
to determine the presence or absence of recurrent and/or metastatic
prostate cancer.
About Progenics
Progenics develops innovative medicines and
other technologies to target and treat cancer, including:
therapeutic agents designed to treat cancer (AZEDRA®, 1095, and
PSMA TTC); prostate-specific membrane antigen (“PSMA”) targeted
imaging agents for prostate cancer (PyL); and imaging analysis
technology (aBSI and PSMA AI). Progenics has two commercial
products, AZEDRA, for the treatment of patients with unresectable,
locally advanced or metastatic pheochromocytoma or paraganglioma
(rare neuroendocrine tumors of neural crest origin) who require
systemic anticancer therapy; and RELISTOR® (methylnaltrexone
bromide) for the treatment of opioid-induced constipation, which is
partnered with Bausch Health Companies Inc.
About Curium
Curium is a world-class nuclear medicine
solutions provider with more than a century of industry experience.
Formed by the union of IBA Molecular and Mallinckrodt Nuclear
Medicine LLC, Curium is the largest vertically integrated
radiopharmaceutical product manufacturer in the industry. With
manufacturing facilities across Europe and the United States,
Curium supports over 14 million patients around the world with
SPECT, PET, and therapeutic radiopharmaceuticals. The Curium brand
name is inspired by the work of radiation researchers Marie and
Pierre Curie and emphasizes a focus on nuclear medicine. To learn
more, visit curiumpharma.com.
This press release contains "forward-looking
statements" regarding future events. Statements contained in this
communication that refer to Progenics' estimated or anticipated
future results or other non-historical facts are forward-looking
statements that reflect Progenics' current perspective of existing
trends and information as of the date of this communication.
Forward looking statements are generally accompanied by words such
as "anticipate," "believe," "plan," "could," "should," "estimate,"
"expect," "forecast," "outlook," "guidance," "intend," "may,"
"might," "will," "possible," "potential," "predict," "project," or
other similar words, phrases or expressions. Such statements are
predictions only, and are subject to risks and uncertainties that
could cause actual events or results to differ materially. These
risks and uncertainties include, among others, market acceptance
for approved products; the cost, timing and unpredictability of
results of clinical trials and other development activities and
collaborations, such as the anticipated launch of a Phase 3 trial
for PyL; our ability to successfully develop and commercialize
products, such as PyL, that incorporate licensed intellectual
property; the effectiveness of the efforts of our partners to
market and sell products on which we collaborate and the royalty
revenue generated thereby; generic and other competition; the
possible impairment of, inability to obtain and costs of obtaining
intellectual property rights; possible product safety or efficacy
concerns, general business, financial, regulatory and accounting
matters, litigation and other risks. More information concerning
Progenics and such risks and uncertainties is available on its
website, and in its press releases and reports it files with the
U.S. Securities and Exchange Commission, including those risk
factors included in its Annual Report on Form 10-K for the fiscal
year ended December 31, 2017, as updated in its subsequent
Quarterly Reports on Form 10-Q. Progenics is providing the
information in this press release as of its date and, except as
expressly required by law, Progenics disclaims any intent or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
circumstances or otherwise.
Additional information concerning Progenics and
its business may be available in press releases or other public
announcements and public filings made after this release. For more
information, please visit www.progenics.com. Information on or
accessed through our website or social media sites is not included
in the company's SEC filings.
(PGNX-F)
Contact: |
Melissa Downs |
|
Investor Relations |
|
(646)
975-2533 |
|
mdowns@progenics.com |
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