[2001]-[BNP7787]-[BioNumerik Announces Strategic Alliance
With Asta Medica oncology]
BioNumerik Announces Strategic Alliance
With Asta Medica oncology
San Antonio, TX (February 20, 2001) – BioNumerik Pharmaceuticals, Inc. has entered into a strategic alliance agreement with Asta Medica Oncology for the development and commercialization of BioNumerik's investigational new drug, BNP7787, in all territories outside the United States, Canada and Japan. BNP7787 is a new chemoprotectant that is initiating Phase 3 development in the United States for the prevention of common and serious toxicities associated with paclitaxel therapy in metastatic breast cancer.
Under the strategic alliance, Asta Medica Oncology and BioNumerik will pursue the clinical development and registration of BNP7787 in the European Union and major territories outside the U.S., Canada and Japan. The two companies plan to coordinate their trials and registration strategies with a global perspective. Asta Medica Oncology will have exclusive marketing and sales rights to BNP7787 in those territories.
As part of the alliance, BioNumerik received an up-front payment from Asta Medica and will receive a royalty on product sales in the agreement territories. BioNumerik has retained the U.S. and Canadian rights to BNP7787 for the development, manufacture, marketing and sales of the product and has rights with respect to BNP7787 in Japan through KI Pharma, the joint venture formed by BioNumerik and Grelan Pharmaceuticals.
"We believe that Asta Medica Oncology is an excellent strategic partner for us to commercialize BNP7787 outside of the U.S. and Japan with their proven track record of sales success, expertise in oncology drug development and well established drug distribution channels. This alliance fulfills our strategic goals to implement a coordinated approach to the international development and commercialization of BNP7787 in all major territories," said Dr. Frederick Hausheer, Chairman and CEO of BioNumerik.
"The prevention of chemotherapy-associated nerve damage is an important area for drug development since it is commonly observed in cancer patients and there is no effective treatment that is currently available. We are thrilled with the BioNumerik collaboration and believe that BNP7787 fits ideally into our product portfolio and we look forward to a long and productive partnership with BioNumerik," said Bernd Aundrup, CEO of Asta Medica.
ASTA Medica AG, a 100% subsidiary of Degussa AG, has completed the first phase of a broadly based restructuring process with the establishment of three independent business units. The business units Oncology, Prescription Medicines & Health Care Products and Branded Generic Manufacturer Arzneimittelwerk Dresden include the appropriate infrastructure required to operate competitively on the international markets as independent companies.
Headquartered in San Antonio, Texas, BioNumerik is a privately held, emerging pharmaceutical company focusing on the development of oncology drugs.
Contact:
Don Mundie
Delta Capital Management LLC
901-755-0949
deltacapital.com |
