Melbourne-based Specialised Therapeutics Asia (ST Asia) is set to commercialise a new anti-cancer drug in South East Asia after signing a second major licensing deal with European pharmaceutical company PharmaMar.
The latest agreement grants ST Asia marketing and distribution rights to lurbinectedin (PM1183) in Australia, New Zealand and throughout the region.
This agent is currently in Phase 3 trials as a potential new treatment for various solid tumours, including platinum-resistant ovarian cancer and small cell lung cancer.
In addition, it is in a Phase 2 trial for metastatic breast cancer with BRCA1 and BRCA2 mutations. Detailed commercial terms of the new agreement are not being disclosed but PharmaMar will receive an upfront payment, royalties and additional remunerations for regulatory and sales milestones achieved in the new markets.
An ST Asia affiliate company will also make an equity investment in PharmaMar.
PharmaMar will also retain development and production rights for lurbinectedin (PM1183), and pending completion of all regulatory processes, will supply the finished product to ST Asia for exclusive commercial use in all agreed regions.
ST Asia CEO Mr Carlo Montagner said the new licensing deal cemented the company’s existing strong relationship with PharmaMar and demonstrated high confidence in the partner company’s development pipeline.
“We have the highest regard for PharmaMar and are pleased to partner once again, pursuing development of this highly promising oncology compound,” he said.
“We eagerly await data from these final stage studies and look forward to making new therapies like this available to patients throughout our regions who are affected by difficult to treat cancers.”
Lurbinectedin (PM1183) is the third marine-derived organism in development by PharmaMar. Data from the Phase 3 study of lurbinectedin (PM1183) in resistant ovarian cancer (CORAIL) is expected to be available later this year.
A Phase 3 trial in small cell lung cancer (ATLANTIS) was initiated in August 2016.
PharmaMar Chairman José María Fernandez Sousa-Faro said: “We are proud to enter into a new agreement with ST Asia, enabling us to reach new populations of cancer patients who may benefit from our novel therapies.