Immunodrug goes south-east
Athens/Paris - US-based drug development company Immuno-Designed Molecules (IDM) Inc. signed in February an exclusive licensing and marketing agreement for its cancer drug Junovan (Muramyl Tripeptide Phosphatidylethanolamine) in south eastern Europe with Genesis Pharma, a privately owned Greek pharmaceutical company. Genesis Pharma will distribute Junovan in Greece, Cyprus, Bulgaria, Croatia, Macedonia, Romania and Slovenia.
In exchange, IDM will receive an upfront license fee and milestone payments on reaching certain sales levels in the territory.
Junovan is an immune system stimulant designed to destroy cancer cells by activating macrophages present in the patient. A Phase III trial, the largest ever published in osteosarcoma, has demonstrated improvement in disease-free periods and overall survival among patients with non-metastatic, resectable osteosarcoma, who were treated with Junovan, corresponding to a relative reduction of 25% in the risk of recurrence, and a relative reduction in the risk of death of 30%.
Junovan has received Orphan Drug Status in both the US and the European Union. IDM expects to receive regulatory approval for Junovan in the US and EU in the course of 2007.