Business
Aeterna Zentaris and Hikma Pharmaceuticals Sign a Commercialization and Licensing Agreement for Lead Oncology Compound, Perifosine, for Middle East and North Africa (MENA) Region
All amounts are in U.S. dollars QUEBEC CITY, Nov. 23, 2011 /CNW Telbec/ - Aeterna Zenta...
About this update from Cosciens Biopharma Inc.
[{"type":"text","content":"\n\n\n\n\n\nAll amounts are in U.S. dollars\n\n\nQUEBEC CITY, Nov. 23, 2011 /CNW Telbec/ - Aeterna Zentaris Inc.\n (NASDAQ: AEZS) (TSX: AEZ) and Hikma Pharmaceuticals PLC (LSE: HIK)\n (NASDAQ Dubai: HIK) announce today the signing of an exclusive\n commercialization and licensing agreement for the registration and\n marketing of perifosine, Aeterna Zentaris' lead anti-cancer compound,\n for the MENA (Middle East and North Africa) region. Perifosine, a novel\n oral Akt inhibitor, is currently in two Phase 3 programs for the\n treatment of colorectal cancer and multiple myeloma in the United\n States and Europe.\n\n\nUnder the terms of the agreement, Aeterna Zentaris is entitled to\n receive an upfront payment and additional payments upon achieving\n certain pre-established milestones in the aggregate of $2 million.\n Furthermore, Aeterna Zentaris will be supplying perifosine to Hikma\n Pharmaceuticals on a cost-plus-basis and is entitled to receive\n double-digit royalties on future net sales of perifosine in the MENA\n region. Hikma Pharmaceuticals will be responsible for the registration\n and commercialization of perifosine in the MENA territory.\n\n\nJuergen Engel, Ph.D., President and CEO of Aeterna Zentaris, stated,\n \"Hikma Pharmaceuticals has a proven track record in oncology and is a\n leading drug company in the Middle East and North Africa region, which\n is why we believe it is a perfect fit for the development and\n commercialization of perifosine in that part of the world. Our\n partnership network for perifosine now encompasses North America,\n Japan, Korea and the MENA region, while we still retain all rights for\n the rest of the world. We look forward to the Phase 3 results in\n colorectal cancer during the first quarter of 2012, as we continue our\n quest of bringing perifosine to the market worldwide for the benefit of\n both patients and shareholders.\"\n\n\nMr. Mazen Darwazah, Vice Chairman of Hikma Pharmaceuticals, commented,\n \"Hikma is committed to improving the treatment of cancer in the MENA\n region through the development of its oncology product portfolio. This\n partnership gives Hikma access to a novel, oral anticancer treatment\n with excellent potential and reinforces Hikma's commitment to\n developing its product portfolio through strong partnerships. We look\n forward to the Phase 3 ...