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Biotech / Medical : Oxford GlycoSciences Plc

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To: Jongmans who started this subject	6/16/2004 4:38:19 AM
From: nigel bates	of 469

Actelion takes control of Celltech's Zavesca drug ZURICH, June 16 (Reuters) - Actelion (Zurich: ATLN.S - news) and Britain's Celltech (LSE: CCH.L - news - msgs) have extended terms of their deal over Gaucher disease drug Zavesca, giving the Swiss firm full control of product development, the biotechnology groups said on Wednesday. Zavesca is already on the market for Gaucher disease -- a rare genetic disorder whose symptoms include enlargement of the liver and spleen -- but the drug may have greater potential in related conditions, for which late stage Phase III studies are underway. Sam Williams, industry analyst at Lehman Brothers, sees peak sales in Gaucher's of only $18 million but believes the drug could eventually bring in $150 million a year if it also used in Tay-Sachs, Nieman Pick type C and Type 3 Gaucher's disease. Actelion expects the results of the clinical studies in Tay-Sachs by the end of this year or early 2005, with data on the other conditions due in mid-2005. Under the revised deal terms, Actelion will take responsibility for the management of continuing or planned clinical trials in Gaucher's as well as those exploring the use of Zavesca in other glycolipid storage disorders. In return, Celltech -- which agreed last month to be acquired by Belgium's UCB -- will give Actelion unrestricted license rights for the use of the drug in the field of related glycolipid storage disorders. Previously Celltech had retained rights to reacquire Zavesca rights after being on the market five years. Actelion will continue to pay a royalty to Celltech on sales of Zavesca, estimated by analysts at 40 percent. Shares in Actelion were unchanged in morning dealings while Celltech added one penny to 548-1/2p. (Additional reporting by Ben Hirschler in London)

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