Spectrum Pharmaceuticals, Inc. has announced that its licensor for ozarelix, AEterna Zentaris, has entered into a licensing and collaboration agreement with Nippon Kayaku for the fourth generation luteinizing hormone-releasing hormone (LHRH) antagonist, ozarelix.
Under the terms of the agreement, Nippon Kayaku has an exclusive license to develop and market ozarelix for all potential oncological indications in Japan. In return, the licensor is to receive an upfront payment upon signature, and is eligible to receive payments upon achievement of certain development and regulatory milestones, in addition to low double digit royalties on potential net sales. Under its license agreement with AEterna Zentaris, Spectrum is entitled to receive fifty per cent of the upfront and milestone payments and royalties
"This strategic alliance is another step towards recognizing our risk- reduced business model," stated Dr. Rajesh C. Shrotriya, chairman, CEO and president of Spectrum. "In addition to the financial benefit we shall receive, an agreement with Nippon Kayaku, a key player in the Japanese oncology market, is important validation of the potential of ozarelix."
Spectrum Pharmaceuticals is opportunistically acquiring and advancing a diversified portfolio of oncology drug candidates that meet critical health challenges for which there are few other treatment options. Spectrum's expertise lies in identifying undervalued drugs with demonstrated safety and efficacy, and adding value through further clinical development and selection of the most viable and low-risk methods of commercialization.