Antisoma plc has sold the US rights to oral fludarabine, its FDA-approved treatment for chronic lymphocytic leukaemia (CLL), to sanofi-aventis US in exchange for an immediate cash payment of USD 60 million (approximately GBP 40 million) and further payments totalling USD 5 million.
Glyn Edwards, CEO of Antisoma, said, "The sale of oral fludarabine roughly doubles our cash resources, and will enable us to pursue all our priority programmes until at least mid-2011, which is well beyond when we expect key phase III results for our leading products, ASA404 and AS1413."
Antisoma is a London Stock Exchange-listed biopharmaceutical company focused on the development and commercialization of novel products for the treatment of cancer.
Oral fludarabine is an orally administered tablet formulation of fludarabine phosphate, a drug widely used as a treatment for CLL. Oral fludarabine was added to Antisoma's portfolio through the acquisition of Xanthus Pharmaceuticals, Inc. in June 2008.