NorwayNorway

Clavis licences cancer drug candidate for US$ 380m

25.11.2009

Oslo/Boulder – Norwegian drugmaker Clavis Pharma has inked a cancer drug development deal worth around US$380m with US-based Clovis Oncology, a newly formed oncology company led by former Pharmion Corporation executives. The deal is for the development and commercialisation of the pancreatic cancer drug CP-4126, currently in phase II development. CP-4126 is a lipid-conjugated form of the anti-cancer drug gemcitabine, which also has the potential to improve the treatment of other solid tumours.
Under the terms of the agreement, Clovis Oncology will take over responsibility for product development and manufacturing of CP-4126, and for filing marketing approvals in the United States, Europe, Canada, and Central- and South America. They will also be responsible for commercialisation in those territories. Clavis Pharma retains the option to co-develop and co-promote CP-4126 in Europe. Clavis Pharma will receive an upfront cash payment of $15 million from Clovis Oncology, and will be eligible to receive further payments totalling up to $365 million on Clovis Oncology’s successful attainment of development, regulatory and sales milestones. Clavis Pharma will receive tiered double-digit royalties on all product sales in the licensed territories.
According to Clavis, the company has now begun looking for a partner for the development of its second product, Elacytarabine, a cancer drug for the treatment of blood-related cancer, currently in phase III.

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