Send to printer »

GEN News Highlights : Dec 14, 2009

Hospira Pays ChemGenex Roughly $16.25M Up Front for CML Therapy

Omacetaxine has been accepted for review in the U.S. and EU, and firms will evaluate the drug in other blood cancers.

Hospira is shelling out €11.1 million (about $16.25 million) up front as part of a licensing and co-development deal for ChemGenex’ leukemia therapy. The agreement covers omacetaxine mepesuccinate in Europe, the Middle East, and specific African countries.

The deal could be worth another €74.1 million, or $108.46 million, to ChemGenex in performance milestones. The company will also be paid royalties on future sales of the drug.

Marketing approval applications for omacetaxine have already been accepted for regulatory review in the U.S. and Europe. The applications cover use of the drug as a treatment for chronic myeloid leukemia in patients who demonstrate the Bcr-Abl T3151 mutation and have failed to respond to Gleevec.

Under the terms of the agreement, ChemGenex will complete registration of omacetaxine with the EMEA. Hospira will be responsible for commercializing omacetaxine in its licensed territories. The companies will also collaborate to investigate additional applications of the drug in a range of hematological malignancies.