TOKYO, Dec. 26 -- Sosei Group Corporation ("Sosei"; TSE Mothers Index:4565), a biopharmaceutical company, today announces that it has re-acquiredthe rights for commercialization of AD 923 from Mundipharma InternationalCorporation Ltd. ("Mundipharma").
AD 923 is an optimized, sublingual formulation of the strong opioidanalgesic fentanyl for the treatment of cancer breakthrough pain. It has beenspecifically designed to provide rapid onset of analgesia in a device that iseasy to use by either the patient or their care giver. An additional benefitis the lockout system that prevents inadvertent overdosing.
In June 2006, Sosei entered into a licence agreement with Mundipharma,under which Mundipharma were granted the right to commercialize AD 923 inEurope and other international markets, excluding North America and Japan.
In February 2008, the programme entered Phase III clinical trials inEurope. However, due to a problem concerning a supplied component in thedevice used to deliver the fentanyl spray, the trial was temporarily halted inMarch 2008.
A solution to the technical problem with the device has since beenidentified, but Sosei is no longer in a position financially to continue withthe programme and a new partner is being sought to progress clinicaldevelopment.
The buyback of the Mundipharma rights now provides Sosei with thepossibility of offering commercialisation rights on a global basis. TheMundipharma rights will be re-acquired for a mutually agreed sum of poundssterling 2m, plus an additional 20% (up to a maximum of pounds 1.5m) of netreceipts if Sosei enters into a new partnership agreement involving theMundipharma territory.
Sosei Group is a leading international biopharmaceutical company withsignificant expertise in product discovery and development. It has establisheda reduced risk business model based primarily upon identifying new uses forestablished drugs and exploiting its unique position within Japanese, Europeanand North American pharmaceutical markets by acquiring compounds from, andbringing compounds into, Japan.
For further information about Sosei, please visit http://www.sosei.comSosei Group Corporation Ichiban-cho FS Bldg., 8 Ichiban-cho, Chiyoda-ku, Tokyo 102-0082 Japan Hiroki MAEKAWA, Representative Executive Officer, E-mail: email@example.com Tel: +81 3 5210 3399 Fax: +81 3 5210 3291 1F London BioScience Innovation Centre 2 Royal College Street, London NW1 0NH Non OSAKABE, PA to CEO E-mail: firstname.lastname@example.org Tel: +44-20-7691-2081 Fax: +44-20-7209-2484 Notes for Editors: About Sosei
SOURCE Sosei Group Corporation