DGAP-News: Cancer Prevention Pharmaceuticals, Inc. /
Cancer Prevention Pharmaceuticals, Inc. and Tillotts Pharma AG Sign
Licensing Agreement for CPP-1X/sulindac in Europe and Japan
09.01.2014 / 22:00
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TUCSON, Ariz., 2014-01-09 22:00 CET (GLOBE NEWSWIRE) --
Cancer Prevention Pharmaceuticals, Inc. (CPP) and Tillotts Pharma AG
(Tillotts), a wholly-owned subsidiary of Zeria Pharmaceutical Co., Ltd.
(Zeria), are pleased to announce today that the companies have entered into an
exclusive licensing agreement for European and Japanese rights to develop and
commercialize the combination of CPP-1X/sulindac for the treatment of familial
adenomatous polyposis (FAP), an orphan disease, and other gastrointestinal
conditions.
Under the terms of the agreement, Tillotts will provide CPP with upfront and
milestone payments for European and Japanese development programs under a
co-development framework. CPP may also receive payments of over $100 million,
including upfront and milestone payments for development and for reaching
certain sales levels as well as royalties escalating to double digits on
product sales. The agreement can potentially be expanded into additional
indications for which CPP-1X/sulindac has shown promise. CPP will be
responsible for product development and Tillotts for regulatory and marketing
for the respective markets. In addition, Zeria will be responsible for
development and marketing in Japan. CPP continues to retain all rights to
CPP-1X/sulindac outside of Europe and Japan and outside the gastrointestinal
field.
Thomas A. Toth von Kisker, CEO of Tillotts, commented, 'This deal is an
important step in our forceful efforts to build an attractive and innovative
product portfolio. It is a prime example of Tillotts' commitment to develop
products that improve the lives of patients with gastrointestinal diseases and
we are delighted to join forces on this important project with an experienced
company like CPP.'
'We are excited to add CPP-1X/sulindac to our product pipeline, as we believe
it has the potential to be an important new therapy for gastrointestinal
conditions with a high medical need. It matches our development and marketing
capabilities and we look forward to developing CPP-1X/sulindac together with
CPP,' said Dirk Reckert, Chief Business Development Officer of Tillotts.
Jeffrey Jacob, Chairman and CEO of CPP, said, 'We are very pleased to partner
with Tillotts and Zeria, companies that have shown strength and focus in the GI
therapeutic area in Europe and Japan. We are delighted to share the benefits of
both their scientific and business expertise in the development and future
commercialization of CPP-1X/sulindac. Tillotts and Zeria share our belief in
the great potential of CPP-1X/sulindac in familial adenomatous polyposis, an
orphan indication with limited treatment options.'
Geller Biopharm, Inc. served as CPP's exclusive agent for this license
agreement. DLA Piper LLP and Rusing, Lopez & Lizardi, PLLC acted as CPP's legal
counsel on this transaction.
About FAP
FAP is an inherited disorder characterized by cancer of the colon and rectum.
Patients with the classic presentation of FAP begin to develop multiple benign
polyps in the colon in their early teenage years. Eventually, the colon becomes
carpeted with hundreds to thousands of polyps and there is a near 100% chance
that the polyps will become cancerous if left untreated. Current medical
practice dictates the removal of the colon and sometimes the rectum in the
formative years for the typical FAP patient. CPP's lead product CPP-1X/sulindac
is being developed to minimize the occurrence and/or recurrence of polyps and
tumors associated with FAP and offers the potential of non-surgical
pharmacopreventive therapy across the spectrum of FAP patients.
About CPP
Cancer Prevention Pharmaceuticals, Inc. (CPP) is developing prevention
therapies for people with an elevated risk of cancer. CPP's approach has been
used with great success in other disease categories such as cardiovascular,
neurovascular and infectious disease. Agents that target pre-disease states
have helped reduce death rates from these conditions by 50%-70% over the past
30 years (source: Jemal, A. et al. CA Cancer J Clin 2008; 58:71-96). Just as
these other prevention therapies represent the largest-selling drug classes on
the market today, CPP believes there is even more potential for therapies that
reduce the risk of cancer if we are able to move upstream to identify and treat
the risk factors associated with cancer. In addition to this Phase III trial,
CPP, in collaboration with the National Cancer Institute (NCI) and the SWOG
cancer research cooperative group, is sponsoring a large 1,340 patient Phase
III trial in colon cancer survivors. CPP is also working collaboratively with
non-profit groups to support trials in neuroblastoma--treating and
preventing--with three active clinical trials. Additional information is
available at www.canprevent.com.
About Tillotts
Tillotts Pharma AG is a fast-growing specialty pharma company with 200
employees in Switzerland and abroad. Tillotts is dedicated to the development,
in/out-licensing and commercialization of innovative pharmaceutical products,
medical devices and diagnostics, all in the field of gastroenterology. Please
visit our website www.tillotts.com.
Tillotts successfully market its own products Asacol(r) and Colpermin(r) as
well as
in-licensed products, such as Simtomax(r) in over 55 countries through its own
affiliates within Europe and a carefully chosen network of
gastroenterology-focused marketing partners throughout the world.
About Zeria
Zeria Pharmaceutical Co., Ltd., founded in 1955, based in Tokyo, Japan,
focusing on R&D, manufacturing and sales of prescription drugs as well as OTC
products. The company is listed on the First Section of Tokyo Stock Exchange
(Stock code: 4559). Zeria holds a leading position within the gastroenterology
field in Japan and operates internationally through a number of subsidiaries.
For more information about Zeria please visit www.zeria.co.jp.
All trademarks used or mentioned in this release are protected by law.
Tillotts' trademarks Asacol(r), Octasa(r), Asacolon(r), Colpermin(r), are either
registered or applied for in up to 70 countries. The trademark Asacol(r) is a
registered trademark by Actavis in the United States of America, Canada and the
United Kingdom. Asacol(r) is a registered trademark in Italy by Giuliani.
Colpermin(r) is a registered trademark by Johnson & Johnson for the United
Kingdom and Ireland.
Geller Biopharm is a healthcare investment banking division of Financial West
Group, member FINRA/SIPC. Geller Biopharm, Inc. and Financial West Group are
unaffiliated entities.
CONTACT: Cancer Prevention Pharmaceuticals, Inc.
Christine Brannen
cbrannen@canprevent.com
Tillotts Pharma AG
Melanie Richter
mrichter@tillotts.com
News Source: NASDAQ OMX
End of Corporate News
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Language: English
Company: Cancer Prevention Pharmaceuticals, Inc.
United States
ISIN: US9901623564
End of News DGAP News-Service
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DGAP-News: Cancer Prevention Pharmaceuticals, Inc. and Tillotts Pharma AG Sign Licensing Agreement for CPP-1X/sulindac in Europe and Japan
| Source: EQS Group AG