Spectrum may earn up to $304 million in milestones and retains Asian rights.
Spectrum Pharmaceuticals will initially receive $41.5 million from Allergan for exclusive rights to its late-stage bladder cancer drug. Allergan also agreed to pay up to $304 million in development, regulatory, and commercialization milestones.
Apaziquone is being investigated in two late-stage studies as a treatment of nonmuscle invasive bladder cancer. Enrollment is expected to be completed by year-end 2009. Spectrum will continue to conduct clinical trials pursuant to a joint development plan, with Allergan bearing the majority of these expenses.
The deal gives Allergan global rights to the drug barring Asia. In the U.S., the companies will copromote apaziquone and share in its profits and expenses. Allergan will also pay royalties on all sales outside the U.S.
