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


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



With a bold approach, including next-generation DNA sequencing (NGS) and state-of-the-art biobanking systems, Norway is pushing forward personalised cancer treatments in its national health care system. Clinical-quality genome...



Bionor Pharma ASA’s development of an HIV vaccine is back on track. In mid-February, the Oslo-based company announced positive results from a Phase IIb study. When combined with antiretroviral treatment, the Vacc-4x vaccine...



Oslo – The north lights up with financial flares. Norwegian cancer specialist Clavis Pharma ASA has raised €21m through a placement of new shares. The 2.8 million shares represent approximately 9.4% of the current stock in the...



Bergen – BerGenBio A/S announced it has completed an €6.9m Series A financing round. The money will be spent in taking their lead compound BGB324 into clinical trials and to develop a companion diagnostic. The lead investors are...



Reykjavik – Iceland’s deCODE Genetics, which Arch Venture Partners and Polaris Venture Partners lifted out of bankruptcy in January 2010, has been making a comeback of late. In mid-October, the genome analyser announced it had...



Oslo/Leverkusen – Norwegian radiotherapy specialist Algeta ASA and German drugmaker Bayer have presented new data on their cancer drug alpharadin. The radium-223-chloride pharmaceutical showed an increased overall survival rate...



Lysaker/Osaka - Pronova Biopharma SA is set on entering the Japanese market with its TAK-085 (omega-3-acid ethyl esters 90) for the treatment of hyperlipidemia. Pronova's partner Takeda Pharmaceutical Company Limited submitted a...



Laskut/Berlin – Researchers from Finland’s Technical Research Center VTT and the Charité Hospital in the German capital have come a step closer to a personalised diagnostic test for cancer. Matej Orešic (VTT) and Carsten Denkert...



Oslo – Norwegian cancer drug development company Clavis Pharma ASA will receive a grant from the Norwegian government for the development of a companion diagnostic in acute myeloid leuk­aemia (AML). The Research Council of Norway...



Oslo – Clavis Pharma ASA has signed a licensing deal with US firm Translational Therapeutics, Inc., for the development and commercialization of CP-4033, a patented Lipid Vector Technology (LVT) derivative of ribavirin under...

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