| Protherics in landmark licensing deal with AstraZeneca |
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LONDON: UK Biotech firm Protherics struck what is regarded as one of the pharma industry’s largest product licensing deals in a decade. The company’s experimental drug CytoFab which is being developed as a treatment for sepsis shock, was licensed to Europe’s third largest drug company AstraZeneca for £195m. AstraZeneca also made further £7.5m equity investment in Protherics.
The drug had already passed Phase IIb trials with encouraging results. AstraZeneca plans to begin the final Phase III trials in the US and Europe after Protherics upgrades its manufacturing process. The deal gives AstraZeneca the global rights to all clinical development work for the drug while Protherics will have the responsibility to make the drug.
CytoFab is an anti-TNF-alpha polyclonal antibody fragment product. Severe sepsis can be potentially life threatening as it causes an infection of the blood organs. Patients with severe sepsis showed high levels of TNF-alpha polyclonals in their blood stream and lung tissue as a consequence to the infection.
They have to be placed under intensive care with an average of five days mechanical ventilation. Medical statistics say that one in every three patients with severe sepsis dies from multiple organ failure.
Phase IIb trials with CytoFab had revealed a significant decline in TNF-alpha content in the blood and lung tissue of severe sepsis patients. It also indicated an encouraging side-effect profile and greater survival benefit compared to treatment with a placebo.
Despite the large number of sepsis diagnoses the world over, currently there is only one drug ‘Xigris’ available for the treatment severe sepsis. This drug however carries the risk of bleeding which limits its use to fewer patients of severe sepsis.
Astra Zeneca said it found the Phase IIb results a good opportunity to “extend its infection franchise”. The drug giant plans to establish CytoFab as the standard care for patients with sepsis.
UK based Protherics makes much of its revenues from marketing an antidote for rattlesnake bites. Some of the other promising products in the company’s pipeline are: Voraze which can combat some of the harmful side effects of chemotherapy – the company could be seeking regulatory approval for it very soon; Prolarix – an experimental drug for liver cancer; and Nexium a medicine for stomach ulcers.
The announcement of the deal made Protherics share prices shoot up 45.13 percent from 25.5p a share to 82p a share.
Posted
on : Sat, 10 Dec 2005 01:35 GMT | Business News
By : Mike Lawson
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