OXFORD, England and LANGHORNE, Pennsylvania, July 6, 2010 /PRNewswire/ -- EUSA Pharma, a transatlantic specialty pharmaceutical company focused on oncology, pain control and critical care, today announced that it has granted the Japanese development and commercialization rights to its oncology therapy Erwinase(R) to Ohara Pharmaceutical Company Limited. The agreement represents the first product partnership EUSA has established in Japan. Under the terms of the companies' agreement, Ohara will be responsible for any late-stage development required by the Japanese authorities, and will pay EUSA an upfront fee and royalties on future sales.
Erwinase is an L-asparaginase derived from Erwinia chrysanthemi, which is used to treat acute lymphoblastic leukemia in combination with other anti-neoplastic agents. It is currently approved for use in Canada and in a number of countries in Europe, the Middle East and Asia, and is undergoing registration procedures in several other territories.
"This agreement represents an important strategic milestone for EUSA as it extends the reach of our partnership network to the Japanese market for the first time," said Bryan Morton, EUSA Pharma's President and Chief Executive Officer. "In the past four years EUSA has made great progress building a broad portfolio of marketed products and a specialty commercial infrastructure in Europe and North America. At the same time we have put in place a wider distribution network to bring our products to patients in over 80 countries around the world. Our new partnership with Ohara extends the reach of our commercialization capabilities, which now cover all of the world's major pharmaceutical markets."
Commenting on the agreement, Dr Seiji Ohara, Ohara Pharmaceutical's CEO and President, said, "Erwinase is an ideal fit with Ohara's growing portfolio of oncology and orphan drugs, and continues the transition of our business towards innovative new therapeutics. We look forward to working with the Japanese health authorities and leading opinion leaders to make this therapy available to patients throughout Japan."
About EUSA Pharma
EUSA Pharma is a rapidly growing transatlantic specialty pharmaceutical company focused on in-licensing, developing and marketing late-stage oncology, pain control and critical care products. The company currently has eight marketed products, including Caphosol(R) for the treatment of oral mucositis, a common and debilitating side-effect of radiation therapy and high dose chemotherapy, Erwinase(R) and Kidrolase(R) for the treatment of acute lymphoblastic leukemia, Collatamp(R) G, a surgical implant impregnated with the antibiotic gentamicin, ProstaScint(R) for imaging the extent and spread of prostate cancer and Quadramet(R) for the treatment of pain in patients whose cancer has spread to the bones. EUSA also has several products in late-stage development.
Founded in 2006, EUSA Pharma is supported by a consortium of leading life science capital investors, comprising Essex Woodlands, 3i, Goldman Sachs, Advent Venture Partners, SV Life Sciences, TVM Capital, NeoMed and NovaQuest. Since its foundation, the company has raised over $300 million, and completed several significant transactions, including the acquisitions of Cytogen Corporation, Talisker Pharma Limited, the French biopharmaceutical company OPi SA and the European antibiotic and pain control business of Innocoll Pharmaceuticals Inc. Key to its rapid growth strategy is the company's established commercial infrastructure in the US, pan-European presence covering over 20 countries and wider distribution network in a further 80 territories. EUSA Pharma plans to continue its aggressive program of acquisitions and in-licensing, in line with its ambitious target to become the leading specialty company in its areas of therapeutic and geographic focus.
Contacts Bryan Morton Chief Executive EUSA Pharma Tel: +44(0)1865-784255 Rob Budge RJB Communications Tel: +44(0)1865-760969 Mobile: +44(0)7710-741241
SOURCE EUSA Pharma