Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (338)	1/20/2004 8:45:14 AM
From: richardred	Respond to of 7256

DJ Enzon And INEX Sign Commercialization Partnership For Oncology Drug Onco TCS@> Dow Jones News Service ~ January 20, 2004 ~ 6:01 am EST (MORE) Dow Jones Newswires 01-20-04 0601ET DJ Inex Pharm Gets $12M Up-Front Payment >ENZN IEX.T (MORE) Dow Jones Newswires 01-20-04 0606ET DJ Inex To Get Up To $20M Upon FDA OK Of Onco TCS >IEX.T (MORE) Dow Jones Newswires 01-20-04 0607ET DJ Enzon Gets Onco TCS N. America Commercialization Rights (MORE) Dow Jones Newswires 01-20-04 0608ET DJ Inex, Enzon/Partnership -2: Pdt In Numerous Trials >IEX.T VANCOUVER (Dow Jones)--Enzon Pharmaceuticals Inc. (ENZN) and Inex Pharmaceuticals Corp. (IEX.T) have entered into a strategic partnership to develop and commercialize Inex's proprietary oncology product, Onco TCS. The companies said in a news release that Enzon will get the exclusive North American commercialization rights for the product for all indications. The lead indication is relapsed aggressive non-Hodgkin's lymphoma, or NHL, for which Inex is in the process of submitting a "rolling" New Drug Application to the U.S. Food & Drug Administration, which is expected to be completed during the first quarter of calendar 2004. Onco TCS is also in numerous Phase II clinical trials for other cancer indications, including first-line NHL. The companies said Inex will receive a $12 million up-front payment and up to a $20 million payment upon Onco TCS receiving approval from the FDA. Company Web Sites: inexpharm.com and enzon.com (MORE) Dow Jones Newswires 01-20-04 0716ET DJ Inex, Enzon/Partnership -3:Inex To Get Percentage Of Sales Enzon Pharmaceuticals Inc. (ENZN) and Inex Pharmaceuticals Corp. (IEX.T) said added development milestones and sales-based bonus payments could total $43.75 million, of which $10 million is payable upon annual sales first reaching $125 million and $15 million is payable upon annual sales first reaching $250 million. Inex will also receive a percentage of commercial sales of Onco TCS. This percentage will increase as sales reach certain predetermined thresholds. The companies said Inex has the option of complementing Enzon's sales efforts by co-promoting Onco TCS through the formation of a dedicated North American sales and medical science liaison force. The costs of building Inex's co- promotion force would be shared equally by both companies and Enzon will record all sales in the licensed territories, they said. The companies will share equally the future development costs designed to obtain and maintain marketing approvals in North America for Onco TCS, while Enzon will pay all sales and marketing costs and certain other post-approval clinical development costs typically associated with commercialization. Enzon will market Onco TCS through its entire North American sales force of about 60 people. The companies said Inex will retain manufacturing rights and will initially manufacture and supply the drug and be reimbursed by Enzon. The partners are discussing the potential of transferring manufacturing to Enzon's sterile injectable manufacturing facility in Indianapolis. They will also explore the acquisition and joint development of other cancer drugs. Inex and Enzon are biopharmaceutical companies. -Carolyn King, Dow Jones Newswires; 416-306-2100 Order free Annual Report for Enzon Pharmaceuticals, Inc. Visit djnewswire.ar.wilink.com or call 1-888-301-0513 (END) Dow Jones Newswires 01-20-04 0734ET