DOYLESTOWN, Pennsylvania and OXFORD, England, May 1 EUSAPharma Inc ('EUSA'), a transatlantic specialty pharmaceutical company focusedon oncology, pain control and critical care, today announced that it hasdivested its monoclonal antibody research business to the French companyInternational Drug Development (IDD). Concurrently, EUSA has divested itsrecombinant L-asparaginase therapeutic research program for acutelymphoblastic leukemia to the Alize Pharma Group. EUSA acquired both theantibody business and oncology program as part of its 2007 acquisition of OPiSA.
"These two transactions further underline EUSA's ongoing success indivesting early-stage programs while retaining a clear strategic focus onlate-stage and marketed products," said Bryan Morton, Chief Executive of EUSAPharma. "As we continue to rapidly build our business around our commercialinfrastructure in the US and Europe, we are creating the opportunity tocompete effectively with major players as an attractive partner for companiesseeking specialist transatlantic commercialization and late-stage developmentexpertise in the oncology, pain control and critical care areas."
EUSA's antibody research business is based in Dardilly, France, andconsists of a team of research and development scientists, laboratories and alibrary of approximately 600 murine antibodies, of which a high proportionare currently characterized. The fully human anti-interleukin-6 antibody,which EUSA recently out-licensed to GlaxoSmithKline, was the firsttherapeutic antibody to arise from this library. Other antibodies derivedfrom the library target indications in oncology and inflammation.
The divestment agreement for EUSA's recombinant L-asparaginasetherapeutic research program includes an option for the company to licenseback any resulting product. This provides EUSA with access to a potentialfuture product that has an ideal fit with the company's oncology focus.
About EUSA Pharma Inc
EUSA Pharma is a rapidly growing transatlantic specialty pharmaceuticalcompany focused on in-licensing, developing and marketing late-stageoncology, pain control and critical care products. The company currently hassix products on the market, including the antibiotic surgical implantCollatamp(R) G, Erwinase(R) and Kidrolase(R) for the treatment of acutelymphoblastic leukemia, and Rapydan(R), a rapid-onset anesthetic patch whichrecently received Europe-wide approval. EUSA also has several products inlate-stage development, notably Collatamp(R) G topical, a gentamicinimpregnated collagen sponge for the prevention and treatment of infected skinulcers, and CollaRx(R) bupivacaine implant* for local post-surgical paincontrol.
Founded in 2006, EUSA Pharma is supported by a consortium of leading lifescience capital investors, comprising TVM Capital, Essex Woodlands, 3i,Goldman Sachs, Advent Venture Partners, SV Life Sciences, NeoMed andNovaQuest. Since its foundation, the company has raised over $225 million andcompleted several significant transactions, including the acquisitions ofTalisker Pharma Ltd, the French biopharmaceutical company OPi SA and theEuropean antibiotic and pain control business of Innocoll PharmaceuticalsInc. As part of its rapid growth strategy the company has establishedcommercial infrastructure in the US, a pan-European presence covering over 20countries and a wider distribution network in a further 25 territories. EUSAPharma plans to continue its aggressive program of acquisitions andin-licensing within its specialist areas of medical and geographic focus, inline with its ambitious target to create a rapidly growing $1 billion companyby the beginning of the next decade.
*CollaRx(R) is a registered trademark of Innocoll Technologies Ltd.
For more information please visit http://www.eusapharma.com
SOURCE EUSA Pharma Inc