Clinigen acquires the global rights to cancer treatment drug
BURTON-on-Trent pharmaceuticals firm Clinigen has acquired the global rights to the oncology support therapy Ethyol (amifostine) from AstraZeneca.
No financial details have been disclosed.
The acquisition strengthens Clinigen’s oncolology support portfolio which now consists of five products.
Ethyol is a cytoprotective drug indicated as an adjuvant therapy to reduce the incidence of xerostomia (dry mouth) as a side-effect in patients undergoing post-operative radiation treatment for head and neck cancer.
It also reduces the cumulative renal toxicity associated with the repeated administration of cisplatin in patients with advanced ovarian cancer.
In 2013, Ethyol revenue was approximately US$4.9m (£2.94m).
This is the second product Clinigen has acquired from AstraZeneca (the first being the anti-viral Foscavir in 2010).
Under the terms of the agreement, Clinigen will assume full responsibility for the distribution of the product with immediate effect. AstraZeneca will continue to manufacture the product whilst the technical transfer to a third party manufacturer is completed.
The acquisition will be paid for in milestone-related stage payments linked to the transfer of manufacturing.
Peter George, chief executive officer of Clinigen Group, said: ” This acquisition is in line with our stated strategy of acquiring niche, hospital-only therapies which have the potential to save and improve the lives of critically ill patients.
“Ethyol was originally identified through our acquisition database of large pharma product candidates as a very good fit for Clinigen’s business model; whilst it was one of the original 12 targets and took some time to close, it is further evidence that the Clinigen model works.”
