NorwayNorway

Bayer hooks Algeta’s groundbreaking cancer treatment Alpharadin in EUR560m deal

04.09.2009

Oslo/Berlin – Shares of Norwegian drug company Algeta ASA have gone through the roof following the announcement that Bayer-Schering Pharma AG in Germany has secured the global commercialisation rights for Alpharadin for over EUR560m. Algeta’s radium-223-based compound, currently in Phase III clinical studies against bone metastases in hormone-refractory prostate cancer, is the world’s first targeted alpha-emitting drug. Alpharadin targets bone metastases specifically through intrinsic radium accumulation, exerting a highly localised effect on tumour cells.

Under the terms of the agreement, Algeta and Bayer will jointly develop Alpharadin, while Bayer will take over the larger share of development costs. In addition to its option of co-promoting 50% of the drug with Bayer on the US market, Algeta will receive an upfront payment of EUR42.5m plus further cash payments upon the achievement of specific development, production and commercialisation milestones. Bayer will commercialise Alpharadin globally and pay tiered double-digit royalties on net sales in markets where there is no co-promotion.

Bayer has announced that it will be testing the compound on other cancer indications, and will fully fund any additional late-stage trials

NorwayNorway

05.04.2011

Oslo – Norwegian Algeta ASA has entered a research collaboration with Genzyme to evaluate the potential of its Thorium platform Under the terms of the agreement, Genzyme will provide access to a novel tumour-targeting antibody,...

NorwayNorway

05.04.2011

Trondheim – Norway-based APIM Therapeutics AS has received a follow-up investment from Sarsia Seed, one of its previous investors. APIM focusses on novel drug candidates that potentiate the action of current chemo­therapeutics to...

NorwayNorway

04.11.2010

Oslo – Norwegian diagnostic specialist DiaGenic ASA has raised NOK70m (EUR 8.5m) through the sale of 140 million shares at NOK0.50 per share in a private placement to new and existing investors. DnB NOR Markets acted as manager...

NorwayNorway

03.11.2010

Oslo – The Oslo Cancer Cluster and the Shanghai Institute of Materia Medica (SIMM), have signed a memorandum of understanding aimed at accelerating the development and adoption of new cancer therapies. Overall, the collaboration...

NorwayNorway

18.09.2010

Oslo/Berlin – Algeta is cashing in on its lead product Alpharadin, a targeted alpha-radiopharmaceutical in clinical trials for treating bone metastases in cancer patients. Bayer Schering Pharma has agreed to pay the Norwegian...

NorwayNorway

11.07.2010

Lysaker – Norwegian biopharmaceutical company PCI Biotech Holding ASA has strengthened the company’s equity by a11m (NOK90m) through a share issue of 2.25 million shares with preemptive subscription rights for existing...

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