FOR IMMEDIATE RELEASE
Abbott and Oasmia Pharmaceutical Announce Exclusive Distribution Agreement for
Paccal® Vet, a New Chemotherapeutic Agent for Dogs
Agreement Extends Abbott's Oncology Commitment for Treatment of Companion
Animals
ABBOTT PARK, Ill., and UPPSALA, Sweden, July 10, 2009 — Abbott and Oasmia
Pharmaceutical have announced a multi-year agreement to market one of the first
cancer medications for dogs. The chemotherapeutic agent, called Paccal® Vet
(micellar paclitaxel), represents the first generation of treatments of its kind
and is currently being studied to treat Grade II and Grade III canine mast cell
tumors where curative surgery cannot be performed.
Under the terms of the agreement, Abbott will obtain exclusive rights to
distribute Paccal Vet for veterinary use in the United States and Canada, and
will be responsible for sales and marketing. Oasmia is responsible for clinical
development, manufacturing and registration. Financial terms were not
disclosed.
Paccal Vet is a new formulation of the active ingredient paclitaxel. Paclitaxel
has been used in treating cancer in humans since 1993. Traditional formulations
of paclitaxel were insoluble in water, thus requiring the medication to be
dissolved in solvents, which led to low tolerability and severe adverse effects
in dogs. Paccal Vet uses a novel, non-toxic nanoparticle formulation that
overcomes those challenges and provides a high level of water solubility. If
approved, Paccal Vet would be one of the first cancer treatments specifically
designed for veterinary use.
The move into veterinary oncology adds a new focus area to Abbott's existing
Animal Health research and product lines, which include diabetes, anesthesia,
wound care, pain management and fluid therapy.
“There are significant unmet needs in this market, which is why Abbott is
entering the veterinary oncology arena,” said Lynn Bromstedt, divisional vice
president and general manager, Abbott Animal Health. “Paccal Vet would be one
the first medications of its kind, and if approved, has the potential to become
an important tool for treating Grade II and Grade III mast cell tumors - both of
which can be life-threatening in dogs.”
“Oasmia is pleased to announce this agreement with Abbott for the largest market
within veterinary medicine,” said Julian Aleksov, chief executive officer,
Oasmia. “Abbott brings a well established veterinary sales organization and a
long tradition in North America, and this agreement is an acknowledgement of the
significant commercial potential of Paccal Vet.”
In the United States alone an estimated one million dogs are diagnosed with
cancer annually. One out of every four dogs will die of cancer and it is the
number one cause of death in dogs over two years of age. Mast cell tumors are
among the most common skin tumors in dogs, and are often difficult to manage.
Most of these dogs will be treated with surgery, but many patients may require
additional or alternative treatment with radiotherapy and chemotherapy.
Radiotherapy is not widely available, and where it is an option it remains
complicated, expensive, and requires the patient to undergo several procedures
where anesthesia is necessary.
About Paccal® Vet
With the retinoid based unique platform XR-17, Oasmia developed a water soluble
formulation of paclitaxel (Paccal® Vet), that does not require premedication and
abolishes Cremophor® EL related side effects. Two clinical trials have been
performed in client owned dogs with tumors refractory to standard treatment. The
results are very promising, both regarding tolerability and tumor response. In
one clinical study of dogs with Grade II/III mast cell tumors, the overall
response rate (either complete disappearance of all signs of cancer or the tumor
shrinks or stops growing completely) was 69.5 percent.1 von Euler H,
Åkerlund-Denneberg N, Rivera P, Bergvall K, Kessler M, Rowe A, Willmann M,
Persson G, Kastengren Fröberg G, Westberg S and Kristianson K. Efficacy and
safety in an open label single arm multi center phase III trial of a new
formulation of paclitaxel (Paccal® Vet) in dogs with mast cell tumours grade II
and III. ESVONC Annual Congress March 26-29, 2009 at Hotel Silvanus, Visegrád,
Budapest, Hungary The studies also show that the pharmacokinetic and
side-effect profiles in dogs are supported by parallel trials in humans.
About Oasmia
Oasmia Pharmaceutical AB develops second and third generation cancer drugs based
on nanotechnology for human and veterinary use. The broad portfolio is focused
on oncology and contains several promising products in the clinical and
pre-clinical phase. Oasmia cooperates with leading universities and other
biotech companies to discover and optimize substances with a favorable safety
profile and better efficacy. The company name was registered in 1999 and is
based in Uppsala, Sweden.
Oasmia's news releases and other information are available on the company's
website www.oasmia.com.
About Abbott Animal Health
Abbott Animal Health is dedicated to providing a better future for animals,
owners and veterinary professionals. Abbott's continuing education programs,
comprehensive training tools, on-call expertise and technical service set the
standard in the industry. Abbott products are trusted at thousands of veterinary
hospitals and clinics every day.
About Abbott
Abbott is global, broad-based health care company devoted to the discovery,
development, manufacture and marketing of pharmaceuticals and medical products,
including nutritionals, devices and diagnostics. The company employs more than
72,000 people and markets its products in more than 130 countries.
Abbott's news releases and other information are available on the company's Web
site at www.abbott.com.
# # #
Media: Tracy Sorrentino, Abbott, +1-847-937-8712, tracy.sorrentino@abbott.com
Maria Lundén, Oasmia, +46 (0)18 505 440, press@oasmia.com
Investors: Tina Ventura, Abbott, 847-935-9390, tina.ventura@abbott.com
Abbott and Oasmia Pharmaceutical Announce Exclusive Distribution Agreement
| Source: Oasmia Pharmaceutical AB
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