Keryx Biopharmaceuticals Announces Reversion of KRX-0401 (Perifosine) License Rights to Aeterna Zentaris
Aeterna Zentaris Plans to Continue Phase 3 Study in Multiple Myeloma
Keryx to Receive Royalty in Exchange for Development Data and Intellectual Property
NEW YORK, May 7, 2012 /PRNewswire/ -- Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) today announced that the Company and Aeterna Zentaris Inc. have executed a License Termination and Technology Transfer Agreement, whereby the KRX-0401 (perifosine) license agreement has been terminated and all license rights have reverted back to Aeterna Zentaris. In exchange for the transfer of the U.S. Investigational New Drug Application, development data, intellectual property and contracts to Aeterna Zentaris, Aeterna Zentaris has assumed all costs related to the Perifosine program going forward and Keryx shall receive a low single-digit royalty on future net sales of perifosine in the U.S., Canada and Mexico. Aeterna Zentaris plans to continue the Phase 3 study in relapsed/refractory multiple myeloma.
About Keryx Biopharmaceuticals, Inc.
Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of renal disease. Keryx is developing Zerenex (ferric citrate), an oral, ferric iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. The Phase 3 clinical program of Zerenex for the treatment of hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease is being conducted pursuant to a Special Protocol Assessment (SPA) agreement with the FDA. Keryx is headquartered in New York City.
Some of the statements included in this press release, particularly those anticipating future clinical trials and business prospects for KRX-0401 (perifosine) may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Among the factors that could cause our actual results to differ materially are the following: our ability to successfully adjust our strategy and reduce our operating expenses following the termination of the KRX-0401 license agreement; and other risk factors identified from time to time in our reports filed with the Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at http://www.keryx.com. The information found on our website is not incorporated by reference into this press release and is included for reference purposes only.
Director - Investor Relations
Keryx Biopharmaceuticals, Inc.
SOURCE Keryx Biopharmaceuticals, Inc.