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.
ST Asia Chief Executive Officer Mr Carlo Montagner said this new licensing deal cemented the company's existing strong relationship with PharmaMar and demonstrated high confidence in the partner company's development pipeline.
"We have the highest regard for PharmaMar and are pleased to partner once again, pursuing development of this highly promising oncology compound," he said.
"We eagerly await data from these final stage studies and look forward to making new therapies like this available to patients throughout our regions who are affected by difficult to treat cancers."
Lurbinectedin (PM1183) is the third marine-derived organism in development by PharmaMar.
Data from the Phase 3 study of lurbinectedin (PM1183) in resistant ovarian cancer (CORAIL) is expected to be available later this year, following the completion of patient recruitment in October 2016.
A Phase 3 trial in small cell lung cancer (ATLANTIS) was initiated in August 2016.
PharmaMar Chairman José María Fernandez Sousa-Faro said: "We are proud to enter into a new agreement with ST Asia, enabling us to reach new populations of cancer patients who may benefit from our novel therapies.
"We remain committed to advancing the development of innovative therapies that may benefit society."