Good news for the PDT sector. PCYC has licensed Lu-Tex in this area to Alcon, which is a key player in the opthalmic field. Haven't heard anything from them since the deal was inked a year ago, though:
Pharmacyclics Signs Ophthalmology Deal With Alcon for Photosensitizer
SUNNYVALE, Calif., Dec. 17 /PRNewswire/ -- Pharmacyclics, Inc.
(Nasdaq: PCYC) and Alcon Pharmaceuticals Ltd. (APL) today announced that APL
has acquired worldwide marketing rights for ophthalmology to Pharmacyclics'
Lutetium Texaphyrin (Lu-Tex) photosensitizer for ophthalmology indications
including age-related macular degeneration (AMD), the leading cause of
permanent blindness in adults in the U.S.
Under the terms of the agreement, APL will conduct and bear all costs for
worldwide development and drug registration for ophthalmology indications of
Lu-Tex. Pharmacyclics received an up-front payment and will receive payments
based on completion of milestones, as well as a royalty on product sales. APL
is an affiliate of Alcon Laboratories, Inc., a leader in the ophthalmology
field.
"This alliance is consistent with Pharmacyclics' business strategy which
is to remain focused on the development of products for oncology and
cardiovascular indications, while expanding the applications of our technology
into other promising areas, such as ophthalmology," stated Marc L. Steuer,
vice president of business development and chief financial officer for
Pharmacyclics. "Alcon is one of the leading ophthalmology companies with the
requisite technical and clinical skills necessary to successfully develop our
technology for ophthalmology indications, and Alcon's strength in the
marketing of ophthalmology products is well-established."
"We are very excited about our partnership with Pharmacyclics and the
potential of Lu-Tex in treating eye disorders such as age-related macular
degeneration. Lu-Tex's properties may provide unique advantages for treatment
of AMD," stated Jerry Cagle, Ph.D., Alcon's senior vice president, research &
development.
AMD is a disorder resulting from abnormal proliferation of blood vessels
which leak fluid causing progressive damage to the retina. To date, there is
no treatment to reverse or prevent the damage caused by AMD, and this disease
often progresses to cause blindness. There are about 200,000 new cases of AMD
per year in the U.S.
Lutetium Texaphyrin (Lu-Tex), one of a group of patented synthetic
molecules called texaphyrins, captures and focuses light energy. Lu-Tex
selectively accumulates in certain types of diseased tissue and can then be
activated to destroy diseased cells by visible light aimed at the disease
site.
Alcon Laboratories, Inc. is the global leader in the research,
development, manufacturing and marketing of ophthalmic products, including
prescription drugs, contact lens care solutions, surgical instruments and
accessory products, intraocular lenses and office systems for eye-care
specialists and other medical offices. Alcon is a wholly-owned subsidiary of
Nestle S.A.
Alcon now employs nearly 9,500 individuals around the world, with sales in
more than 200 countries and territories. One of the cornerstones of Alcon's
success is the company's commitment to research and development. Over the
next five years, Alcon plans to spend nearly $1 billion on eye-related
research, more than any entity outside of the National Eye Institute.
Pharmacyclics, Inc. is developing energy-potentiating drugs designed to
improve radiation and chemotherapy of cancer and enable or improve the
photodynamic therapy of certain cancers and atherosclerotic cardiovascular
disease. These development-stage products are based upon small molecules
which bind metals in a unique way and are capable of capturing and focusing
forms of energy used in a variety of medical applications. The company has
three therapeutic products in clinical development: Gd-Tex, a radiation
sensitizer for cancer treatment, LUTRIN(TM), a photosensitizer for cancer
treatment, and ANTRIN(TM) for photoangioplasty of atherosclerosis; and it has
several compounds in pre-clinical development.
The statements made in this press release may contain certain
forward-looking statements that involve a number of risks and uncertainties.
Actual events or results may differ from the company's expectations and no
assurance can be given that the milestones in the collaboration will be
achieved, that any products will be commercialized as a result thereof, or
that the collaboration will be continued indefinitely. In addition to the
matters described in this release, future actions by the FDA, the initiation,
timing and results of pending or future clinical trials, as well as risk
factors listed from time to time in the company's SEC reports, including but
not limited to, its report on Form 10-Q, as well as its Annual Report on Form
10-K, may affect the actual results achieved by the company.
NOTE: LUTRIN and ANTRIN are trademarks of Pharmacyclics, Inc.
Peter |
