AEterna Zentaris Enters a License and Collaboration Agreement with Spectrum Pharmaceuticals on Fourth Generation LHRH Antagonist
August 12 2004 - 10:15AM
PR Newswire (US)
AEterna Zentaris Enters a License and Collaboration Agreement with
Spectrum Pharmaceuticals on Fourth Generation LHRH Antagonist
D-63153 after Zentaris Regains Worldwide Rights to D-63153 from
Baxter Healthcare All amounts are in Canadian dollars QUEBEC CITY,
Aug. 12 /PRNewswire-FirstCall/ -- AEterna Zentaris Inc. (TSX: AEZ;
Nasdaq: AEZS) announced today that its German subsidiary Zentaris
GmbH and Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI), an
oncology-focused pharmaceutical company based in the United States,
have entered into a licensing and collaboration agreement on a
fourth generation LHRH antagonist D-63153 with the potential to
treat hormone-dependent cancers as well as benign, proliferative
disorders. The agreement comes on the heels of AEterna Zentaris
regaining worldwide rights to D-63153 from Baxter Healthcare as a
result of recent organizational changes and restructuring at
Baxter, and following a mutual understanding between the two
companies aimed at maximizing the value of D-63153. Under the terms
of the agreement, AEterna Zentaris granted to Spectrum an exclusive
license to develop and commercialize D-63153 for all potential
indications in North America (including Canada and Mexico) and
India. AEterna Zentaris received an upfront payment which included
cash and equity, at signature, and is eligible to receive payments
upon achievement of certain development and regulatory milestones,
in addition to royalties on potential net sales. AEterna Zentaris
retains exclusive rights to the rest of world and will share with
Spectrum upfront and milestone payments, royalties or profits from
potential sales in Japan. Financial details were not disclosed. "We
are delighted to have a collaborator with the drug development
expertise and the financial strength that Spectrum possesses,"
stated Professor Dr. Jurgen Engel, Chief Operating Officer of
AEterna Zentaris. "The agreement allows for AEterna Zentaris to
generate near- and mid-term revenue, while also providing for
shared upside from successful commercialization of the product.
AEterna Zentaris' and Spectrum's complementary skills and
experience should enhance and expedite the development of this
promising compound." "We are very pleased to enter into this
alliance with Spectrum Pharmaceuticals," said Gilles Gagnon,
President and CEO of AEterna Zentaris. "Our goal in this, as well
as other existing and future alliances, is to continue to build
shareholder value by maximizing the value of our robust pipeline
while diversifying the risk inherent in drug development." "We are
excited to have the opportunity to work with AEterna Zentaris' team
as well as someone of Professor Engel's caliber and look forward to
developing and commercializing D-63153," stated Luigi Lenaz, M.D.,
President of Oncology Division, Spectrum Pharmaceuticals. "We plan
to expand the development of D-63153 by initiating additional
clinical trials in one or more indications as soon as feasible,
possibly before the end of 2004." "We are extremely pleased to
establish this alliance and look forward to working with AEterna
Zentaris' team to enhance the value of D-63153," stated Rajesh
Shrotriya, M.D., Chairman of the Board, Chief Executive Officer and
President of Spectrum Pharmaceuticals, Inc. About Spectrum
Pharmaceuticals Spectrum Pharmaceuticals is an oncology-focused
pharmaceutical company engaged in the business of acquiring,
developing and commercializing proprietary drug products which have
a primary focus on the treatment of cancer and related disorders as
well as generic drug products for various indications. The
Company's lead drug, satraplatin, is a Phase III oral, anti- cancer
drug being co-developed with GPC Biotech AG for its initial
indication, second-line chemotherapy for hormone-refractory
prostate cancer and has been granted fast-track status by the FDA.
Elsamitrucin, a Phase II drug, will initially target non-Hodgkin's
lymphoma. EOquin(TM), a Phase II drug, is being studied in the
treatment of superficial bladder cancer. In addition, the Company
has filed with the FDA three Abbreviated New Drug Applications for
the generic drugs ciprofloxacin, carboplatin and fluconazole. For
additional information, visit the company's website at
http://www.spectrumpharm.com/ . About AEterna Zentaris Inc. AEterna
Zentaris Inc. is a biopharmaceutical company focused in oncology
and endocrine therapy. Its extensive portfolio, from drug discovery
to marketed products, includes perifosine, an orally-active AKT
inhibitor in several Phase II trials for multiple cancers, and
cetrorelix, an LHRH antagonist already marketed for in vitro
fertilization under the brand name Cetrotide(R), and also in
advanced clinical development for the treatment of uterine myoma,
endometriosis and benign prostatic hyperplasia (BPH). AEterna
Zentaris also owns 62% of Atrium Biotechnologies Inc., which
develops, distributes and markets active ingredients, specialty
fine chemicals, cosmetic and nutritional products for the
cosmetics, chemical, pharmaceutical and nutritional industries.
News releases and additional information about AEterna Zentaris are
available on its new Web site http://www.aeternazentaris.com/ .
Forward-Looking Statements This press release contains
forward-looking statements made pursuant to the safe harbor
provisions of the U.S. Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and
uncertainties, which could cause the Company's actual results to
differ materially from those in the forward-looking statements.
Such risks and uncertainties include, among others, the
availability of funds and resources to pursue R&D projects, the
successful and timely completion of clinical studies, the ability
of the Company to take advantage of business opportunities in the
pharmaceutical industry, uncertainties related to the regulatory
process and general changes in economic conditions. Investors
should consult the Company's quarterly and annual filings with the
Canadian and U.S. securities commissions for additional information
on risks and uncertainties relating to the forward-looking
statements. Investors are cautioned not to rely on these
forward-looking statements. The Company does not undertake to
update these forward- looking statements. DATASOURCE: AETERNA
ZENTARIS INC. (FORMERLY/ANCIENNEMENT - LES LABORATOIRES AETERNA
CONTACT: Media Relations: Paul Burroughs, (418) 652-8525 ext. 406,
; U.S. Investor Relations: Lippert/Heilshorn & Associates: Kim
Golodetz, (212) 838-3777, ; Investor Relations: Jacques Raymond,
(418) 652-8525 ext. 360, ; Europe: Matthias Seeber, +49 69 42602
3425,
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