Sonus jv with Schering (Bayer) from a couple of years back......
Schering AG (FDE: SCH, NYSE: SHR) and Sonus Pharmaceuticals, Inc. (NASDAQ: SNUS) today announced that they have signed an agreement granting Schering an exclusive, worldwide license to Sonus’ TOCOSOL® Paclitaxel anti-cancer product.
TOCOSOL Paclitaxel has shown promising safety and anti-tumor activity in Phase 2 clinical trials in a variety of solid tumors, and the product is currently in a Phase 3 pivotal study for the potential treatment of metastatic breast cancer. Schering and Sonus expect to submit a New Drug Application (NDA) for this indication by the end of 2007.
Under the terms of the agreement Schering will take approximately 15% equity investment in Sonus Pharmaceuticals, Inc., which will also receive an upfront fee, milestone payments and royalties. The license agreement is subject to Hart Scott Rodino regulatory clearance.
“The collaboration with Sonus Pharmaceuticals strategically complements our innovative and extensive internal pipeline of systemic and targeted cancer therapies and reinforces our strong commitment to oncology, ? said Carlo Montagner, Head of Schering AG’s Global Business Unit Oncology. “We believe that the chemotherapy market will remain a growing market for the future years, particularly the taxane segment. As of today, there is a significant unmet medical need for more convenient, highly efficacious chemotherapy treatments with an improved and therefore more acceptable tolerability profile, resulting in more patients receiving optimal therapy. TOCOSOL Paclitaxel may deliver all these benefits. ?
“We are delighted to have reached this agreement with a leading global player in the pharmaceutical industry,? said Michael A. Martino, president and chief executive officer of Sonus Pharmaceuticals. “Schering’s global capabilities in clinical and regulatory development, strategic marketing, sales, and manufacturing are world-class and combined with their commitment to the growth of their Oncology Business makes them an outstanding partner for Sonus. Schering shares in our belief that TOCOSOL Paclitaxel has solid competitive advantages that could differentiate it from other taxane products, and our two companies are committed to working together to leverage global development investments to maximize the clinical and commercial success of the product.? |
