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

12.05.2010

Oslo – In Norway, a discussion has begun on how to continue to support biotechnology after the current National Programme for Research in Functional Genomics in Norway (FUGE) comes to a close in 2011. Efforts to draw up a...

NorwayNorway

23.04.2010

Oslo – Norwegian cancer specialist Clavis Pharma ASA announced yesterday that its US-based development partner Clovis Oncology for CP-4126 has signed an agreement with Ventana Medical Systems, Inc. to develop a companion...

NorwayNorway

06.03.2010

Oslo/Levanger – A report released by the Research Council of Norway (RCN) proposes setting up a national biobank company in Norway. After analysing ethical, judicial and political arguments, the study ordered by the Norwegian...

NorwayNorway

01.02.2010

Cancer drug developer Clavis Pharma ASA (Oslo) has appointed Olav Hellebø as its new CEO. Hellebø, who joined Clavis Pharma from UCB at the beginning of February, is an experienced pharmaceutical executive who has held senior...

NorwayNorway

04.01.2010

Oslo – Norwegian drug delivery specialist Clavis Pharma ASA has received an unsecured loan of NOK20m (EUR2.4m) from the governmental body Innovation Norway to kick-off a Phase III registration trial with elacytarabine in 350...

NorwayNorway

22.12.2009

Oslo – Norwegian drug delivery specialist Clavis Pharma ASA has received an unsecured loan of NOK20m ($3.2m) from Innovation Norway to kick-off a phase III registration trial with elacytarabine in patients with late-stage acute...

NorwayNorway

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...

NorwayNorway

19.09.2009

Oslo – Norway’s Algeta ASA surprised analysts with a EUR560m licensing pact for the company’s lead drug – an experimental radiotherapy that targets cancerous bone cells. Licensing partner Bayer Schering Pharma will pay US$61m in...

NorwayNorway

13.07.2009

Oslo – Prof. Harald Stenmark, head of the Centre for Cancer Biomedicine at the Norwegian Radium Hospital, has received one of the Advanced Grants distributed by the European Research Council. The oncologist will now receive...

NorwayNorway

13.07.2009

Oslo – Clavis Pharma ASA, a Norwegian drug developer focused on cancer therapies, has reported that it has received EUR14m (NOK 129m) in additional funding through a private placement of 10.7 million shares led by Carnegie ASA...

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