[2001]-[XR9576]-[P-Glycoprotein Inhibitor][Xenova and QLT sign licence agreement]
Xenova and QLT sign licence agreement
15 Aug 2001
Xenova Group plc has signed an exclusive licence agreement with QLT Inc for the development and for the marketing in the United States, Canada and Mexico of Xenova's multi-drug resistance (MDR) modulator, XR9576, for the treatment of MDR in cancer.
Under the terms of the agreement, QLT will assume responsibility for the further development of XR9576, including Phase III trials, all regulatory filings and the manufacture and sale of XR9576 within those territories covered by the agreement. QLT will make an immediate upfront license payment of US$10m to Xenova and will provide up to US$45m in funding for all development activities related to Phase III clinical studies for XR9576 in North America and Europe.
QLT has stated its objective is to build an integrated biopharmaceutical company and will use this opportunity to establish an oncology franchise. Xenova retains all rights to XR9576 outside the United States, Canada and Mexico, including European and Rest of World marketing rights.
It is anticipated that QLT will file for marketing approval of XR9576 in first line treatment in combination with chemotherapy in advanced non- small cell lung cancer (NSCLC) in 2005. NSCLC is the first of several indications in which XR9576 will be investigated. Other potential cancer indications include breast, ovarian, acute myeloid leukemia, sarcoma and colorectal.
David Oxlade, Chief Executive of Xenova, commented: "This deal with QLT allows us to proceed as planned with pivotal studies in Europe and the US, and gives us a strong development partner with a commitment to establishing a dedicated oncology marketing and infrastructure in the US." "Importantly, this deal retains for Xenova all rights to XR9576 in Europe and the Rest of the World and, as we move towards obtaining marketing approvals, we shall be establishing further commercial partnerships to maximize the value of this important new therapeutic approach."
Julia Levy, President and CEO of QLT, said, "This collaboration underlines QLT's commitment to oncology and to expand beyond photodynamic therapy and supports our longer term plan to become a fully integrated biopharmaceutical company with a North American sales force. Our internal evaluation of this product confirms that XR9576 is the leading MDR inhibitor in development based on its potency, selectivity and stage of development."
Xenova Group plc's product pipeline focuses principally on the therapeutic areas of cancer, with a secondary focus on infectious, autoimmune and cardiovascular diseases.
QLT Inc is a world leader in photodynamic therapy, a field of medicine utilizing light-activated drugs in the treatment of disease.
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