Alizé Pharma II Sign Licensing Agreement with EUSA Pharma
Product News Feb 03, 2012
Alizé Pharma II has announced the signing of a licensing agreement with EUSA Pharma for ASPAREC®, a new L-asparaginase product currently in Phase I clinical development for the treatment of acute lymphoblastic leukemia.
Pursuant to the agreement, EUSA Pharma will be responsible for the development and worldwide commercialization of ASPAREC.
In return, Alizé Pharma has received an upfront payment, and will be entitled to additional regulatory milestone payments and royalties on sales.
The companies have not disclosed further financial information.
ASPAREC is Alizé Pharma’s PEGylated recombinant L-asparaginase derived from Erwinia chrysanthemi. It is being developed as a treatment for acute lymphoblastic leukemia (ALL) in patients with hypersensitivity to E. coli-derived L-asparaginase.
Preclinical data indicate that ASPAREC is both longer acting and less immunogenic than the currently available Erwinia chrysanthemi derived L-asparaginase product.
“This agreement between Alizé Pharma and EUSA Pharma, a worldwide leader in the development and marketing of L-asparaginase products, is excellent news for us, for our investors and for ALL patients” said Alizé Pharma’s President and founder, Thierry Abribat.
Abribat continued, “It validates our medical approach, emphasizes our drug development capabilities, and fits well with our business strategy, which is to establish partnerships with the pharmaceutical industry early in the development of our programs in order to secure both near-term and long-term revenue streams.”
“We are delighted to reach this agreement with Alizé Pharma. ASPAREC fits perfectly with EUSA’s specialty focus on oncology and orphan diseases, and builds on our established portfolio in the field of acute lymphoblastic leukemia, said Bryan Morton, President and Chief Executive Officer of EUSA Pharma.
Morton continued, “This agreement follows the approval last year of EUSA’s first internally developed product, and further underlines the company’s strategic transition into a fully fledged development as well as commercialization organization.”