Protherics PLC
Protherics signs ReGel(TM) licensing agreement
with Myungmoon Pharm.
London, UK; Brentwood, TN, US; 25 September 2007 - Protherics PLC ("Protherics"
or the "Company"), the international biopharmaceutical company focused on
critical care and cancer, today announces that it has signed a licensing
agreement with Myungmoon Pharm. Co. Ltd., a Korean pharmaceutical company,
granting it the rights to develop anti-inflammatory products using Protherics'
novel proprietary local, sustained release drug delivery system ReGel(TM).
Protherics will receive a small upfront payment on signing the agreement and
royalties on any net sales in the Republic of Korea. Under the agreement,
Protherics also has an option on agreed terms to the global rights outside of
the Republic of Korea to any products developed under the agreement.
Mr G.H. Lee, President of Myungmoon Pharm. Co. Ltd. commented:
"We are excited to have signed this agreement to use ReGel in the development of
locally administered, sustained release anti-inflammatory products for arthritis
and other potential indications."
Andrew Heath, Chief Executive of Protherics commented:
"Protherics' ReGel is a unique drug delivery system, gained through our
acquisition of MacroMed Inc, which has broad applicability beyond its use in
OncoGel, our proprietary formulation of paclitaxel in phase II development for
cancer. There is encouraging interest from a number of major companies to
develop products utilising ReGel for a range of indications."
| Ends |
For further information please contact:
Protherics
Andrew Heath, CEO +44 (0) 20 7246 9950
Nick Staples, Director of Corporate Affairs +44 (0) 7919 480510
Saul Komisar, President Protherics Inc +1 615 327 1027
Financial Dynamics - press enquiries
London: Ben Atwell, Lara Mott +44 (0) 20 7831 3113
New York: John Capodanno, Jonathan Birt +1 212 850 5600
Or visit www.protherics.com
Notes for Editors:
About ReGel(TM)
ReGel(TM) is a thermosetting biodegradable gel that solidifies when injected into
the body. It is designed for local administration where it is able to provide
high concentrations of a drug for a sustained period. For more information about
ReGel(TM)'s use with OncoGel(TM) please visit
http://www.protherics.com/Products/oncogel.aspx
About Myungmoon Pharm. Co. Ltd.
Myungmoon Pharma is a specialised and characterised pharmaceutical company based
in the Republic of Korea, with a range of products including anesthetic agents,
antibiotics, muscle relaxants, endocrine and cardiovascular products. In 2006
they turned over $51 million with a profit of over $5 million. More information
can be found at http://www.mmpharm.co.kr/english/
About Protherics
Protherics (LSE: PTI, NASDAQ: PTIL) is a leading biopharmaceutical company
focused on the development, manufacture and marketing of specialised products
for critical care and cancer.
Protherics has developed and manufactures two critical care products currently
sold in the US: CroFab(TM), a pit viper antivenom and DigiFab(TM), a digoxin
antidote. The Company's strategy is to use the revenues generated from its
marketed and out-licensed products to help fund the advancement of its broad,
late stage pipeline.
Protherics has two major development opportunities in its critical care
portfolio. CytoFab(TM) is being developed by AstraZeneca, for the treatment of
severe sepsis, following a major £195 million (more than $340 million) licensing
deal in December 2005. An additional, expanded phase II programme is planned to
start in the second half of 2007. In addition, Protherics is currently
undertaking a phase IIb study with Digoxin Immune Fab for the treatment of
pre-eclampsia. This study is expected to report in the first half of 2008.
Protherics has a pipeline of four novel cancer products in clinical development,
and intends to undertake the sales and marketing of these products in the US or
the EU. Protherics is preparing to resubmit a BLA for Voraxaze(TM), an adjunct
to high dose methotrexate therapy, under a rolling submission in the US starting
in early 2008.
Protherics has a strong cash position, with unaudited cash balances at 30 June
2007 of £45m. With headquarters in London, the Company has approximately 270
employees across its operations in the UK, US and Australia.
For further information visit: www.protherics.com
Disclaimer
This document contains forward-looking statements that involve risks and
uncertainties, including with respect to Protherics' product pipeline and
anticipated development and clinical trials for product candidates. Although we
believe that the expectations reflected in such forward-looking statements are
reasonable at this time, we can give no assurance that such expectations will
prove to be correct. Given these uncertainties, readers are cautioned not to
place undue reliance on such forward-looking statements. Actual results could
differ materially from those anticipated in these forward-looking statements due
to many important factors, including the factors discussed in Protherics' Annual
Report on Form 20-F and other reports filed from time to time with the U.S.
Securities and Exchange Commission. We do not undertake to update any oral or
written forward-looking statements that may be made by or on behalf of
Protherics.
This information is provided by RNS
The company news service from the London Stock Exchange
Protherics PLC announces Licensing Agreement
| Source: Protherics PLC
Cheshire, UK--(Marketwire - September 25, 2007) -