Elan Corporation plc and EntreMed Inc. have entered into a license agreement in which EntreMed has been granted rights to utilise Elan's proprietary NanoCrystal Technology to develop the oncology product candidate, Panzem NCD (2ME2 or 2-methoxyestradiol).
Under the terms of the license agreement, Elan is eligible to receive payments upon the achievement of certain clinical, manufacturing, and regulatory milestones. Additionally, Elan will receive royalty payments based on sales of Panzem NCD. Elan will manufacture EntreMed's Panzem NCD, a NanoCrystal Technology formulation with improved bio-availability and absorption, claims a company release.
In 2004, the parties signed a clinical supply agreement covering the supply of Panzem NCD for phase 1 trials. These agreements extend the Panzem NCD supply arrangement to phase 2 and later trials. Panzem NCD is currently in phase 1b clinical studies in patients with advanced cancer. EntreMed expects to announce the commencement of multiple phase 2 trials in early 2006.
Paul V. Breen, executive vice president, Elan Drug Technologies, said, "We are pleased to extend our relationship with EntreMed. We hope that these agreements will lead to the launch of a new product with unique benefits to cancer patients."
EntreMed president and chief executive officer, James S. Burns commented, "These agreements continue our relationship with Elan for further development and manufacturing of Panzem NCD, our lead clinical drug candidate. Interim results from our Phase 1b studies demonstrated that daily dosing with the Elan formulation maintains blood levels of 2ME2 within the desired therapeutic range, allowing us to move forward with Phase 2 clinical trials."
Burns further stated, "Expanding the Elan relationship is a logical next step for EntreMed that provides us with access to process improvements and continuity of supply for further scale-up and clinical development. We look forward to working closely with Elan to meet our development goals and move Panzem NCD towards commercialisation."
Elan's NanoCrystal Technology is a novel drug delivery technology that offers superior results when coupled with poorly water-soluble compounds.
Elan is a neuroscience-based biotechnology company that is focused on discovering, developing, manufacturing, selling and marketing advanced therapies in neurodegenerative diseases, autoimmune diseases and severe pain.
EntreMed Inc. is a clinical-stage pharmaceutical company developing therapeutic candidates primarily for the treatment of cancer and inflammation. Panzem (2-methoxyestradiol or 2ME2), the company's lead drug candidate, is currently in clinical trials for cancer, as well as in preclinical development for non-oncology indications.