Isotechnika And Roche Sign Largest Drug Development Agreement In Canadian History
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EDMONTON, April 9 /CNW/ - Dr. Robert Foster, Chairman and CEO and Dr. Randall Yatscoff, President and COO of Isotechnika Inc. and William M. Burns, Head of Roche's Pharmaceutical Division, announced today that they have signed an agreement for the global co-development of Isotechnika's innovative transplant drug, ISA(TX)247. This agreement represents the largest Canadian drug development deal between a large pharma and a biotech company for the commercialization of a single drug molecule.
ISA(TX)247 is a novel calcineurin inhibitor in early Phase II clinical development as immunosuppressive therapy in organ transplantation and in the treatment of auto-immune diseases. Early studies indicate that ISA(TX)247 is considerably more potent and far less toxic compared to other immunosuppressants in this class, such as cyclosporin A. This compelling combination of reduced toxicity and improved potency would give a major therapeutic benefit over existing calcineurin based treatments.
Under the terms of the agreement:
- Roche will make up-front and milestone payments to Isotechnika.
Assuming all development milestones are achieved, the amount of this
deal will be 215 million US dollars;
- Roche will pay Isotechnika a percentage of gross profits;
- In addition, Roche will contribute 70% of the development cost of this
drug.
- Roche has exclusive world-wide marketing rights to ISA(TX)247.
Further financials terms were not disclosed. A joint decision-making governance structure has been established with equal representation from both organizations to oversee and guide the future development of ISA(TX)247. This agreement is subject to United States Federal Trade Commission (FTC) approval.
"To achieve this landmark drug development partnership in the current climate is a clear validation and endorsement of Isotechnika's drug development program, proprietary technology and business strategy for ISA(TX)247", states Dr. Yatscoff. "Our exciting new partnership with Roche provides critical peer recognition of the enormous potential of ISA(TX)247 to become the leading global immunosuppressive therapy in organ transplantation and in the treatment for auto-immune diseases".
"This alliance with Roche provides our company with the expertise and resources essential to the advancement of ISA(TX)247 into the commercial marketplace", commented Dr. Foster. "The achievement of this shared objective will generate the maximum benefit for our companies, our shareholders and the millions of people around the world living with organ transplants and auto-immune diseases."
"Our strategy is to in-license interesting compounds that complement our product portfolio. Roche is already a major player in the area of transplantation therapies and ISA(TX)247 has the potential to significantly strengthen our position in this important field," stated William M. Burns, Head of Roche's Pharmaceuticals Division.
Roche in transplantation
Roche is strongly committed to improving the long-term outcomes of transplantation and enhancing the quality of life of transplant recipients. Roche has developed three innovative therapies that improve graft and post-transplant health: Zenapax prevents the acute rejection of the newly transplanted organ, CellCept, the largest selling branded immunosuppressive in North America, offers both physicians and patients the possibility of an effective long term immunosuppressive regimen with low toxicity, and Cymevene/Cytovene has been developed for the prevention and treatment of cytomegalovirus, a dangerous viral infection associated with transplantation. In addition, Roche supports basic research in transplantation with its funding of the independent Roche Organ Transplantation Research Fund (ROTRF), which directly supports innovative research projects attracting new researchers with innovative and novel scientific ideas to meet unmet medical needs in solid organ transplantation.
Roche's transplantation portfolio generated total sales of 1.118 billion Swiss francs in 2001, which represents a growth of over 35% as compared to the year before. |
