Lurbinectedin (PM1183) is a novel anti-cancer drug in final stage trials for platinum-resistant ovarian cancer and small cell lung cancer
Second major license deal between Specialised Therapeutics Asia and PharmaMar
ST Asia affiliate company makes equity investment in PharmaMar
SINGAPORE and MELBOURNE, Australia, May 17, 2017 /PRNewswire/ -- International biopharmaceutical company Specialised Therapeutics Asia (ST Asia) is set to commercialise a promising new anti-cancer drug throughout South East Asia, after signing a second major licensing deal with European pharmaceutical company PharmaMar.
The latest agreement allows ST Asia marketing and distribution rights to new anti-cancer compound lurbinectedin (PM1183) in Australia, New Zealand and throughout SE Asia.
This promising agent is currently in final stage (Phase 3) trials as a potential new therapy for various solid tumours, including platinum-resistant ovarian cancer and small cell lung cancer. In addition, it is in a Phase 2 trial for metastatic breast cancer with BRCA1 and BRCA2 mutations.
Commercial terms of the new license agreement are not being disclosed by ST Asia, but PharmaMar will receive an upfront payment, royalties and additional remunerations for regulatory and sales milestones achieved in these new markets.
An ST Asia affiliate company will also make an equity investment in PharmaMar.
PharmaMar will also retain development and production rights for lurbinectedin (PM1183), and pending completion of all regulatory processes, will supply the finished product to ST Asia for exclusive commercial use in all agreed regions.