| April 19, 2007--Antisoma struck an exclusive
global licensing agreement with Novartis for its vascular
disrupting agent, AS1404 (DMXAA). Antisoma will be
eligible for total upfront, development, regulatory, and
sales-related milestone payments of up to $890 million,
contingent upon successful development and marketing of
AS1404 in multiple indications, launch of back-up products
in multiple indications, and achievement of sales
milestones. If AS1404 is approved and commercialized,
Antisoma will receive royalties on AS1404 sales and will
have an option to co-commercialize AS1404 in the United
States.
Novartis
will fund and conduct all future development of AS1404,
and will also fund the outstanding costs of the Phase II
trials currently being completed by Antisoma. The
agreement also includes the potential for Novartis to fund
certain of Antisoma’s commercialization costs.
Novartis
expects to start a Phase III study in squamous non-small
cell lung cancer in early 2008, and will also conduct a
number of supporting studies in lung and other cancers. If
final results from Phase II trials in these indications
are positive, Phase III trials in prostate and ovarian
cancers will follow. Antisoma |
