Astellas and Medivation sign development agreement
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[October 29, 2009]

Astellas and Medivation sign development agreement

Oct 29, 2009 (Datamonitor via COMTEX) -- Astellas Pharma, a Japanese pharmaceutical company, and Medivation, a US-based biopharmaceutical company, have entered into a global agreement to develop and commercialize MDV3100, Medivation's investigational drug for the treatment of prostate cancer.



Under the terms of the agreement, Medivation will receive an up-front cash payment of $110 million. Medivation is also eligible to receive payments of up to $335 million upon the attainment of development and regulatory milestones plus up to an additional $320 million in commercial milestone payments.

The companies will collaborate on a comprehensive development program that will include additional studies to develop MDV3100 for both late- and early-stage prostate cancer. Subject to receipt of regulatory approval, the companies will jointly commercialize MDV3100 in the US.



The companies will share equally all US development costs, commercialization costs, and profits. Astellas will have responsibility for developing and commercializing MDV3100 outside the US and will pay Medivation tiered double-digit royalties on ex-US sales.

MDV3100 is currently being evaluated in the Phase III Affirm clinical trial in men with castration-resistant prostate cancer who were previously treated with docetaxel-based chemotherapy.

Masafumi Nogimori, president and CEO of Astellas, said: "We are pleased to initiate a great partnership with Medivation. We believe that MDV3100 has the unique potential to establish a new treatment approach for prostate cancer. Astellas already has the global expertise in urology and the strong commitment to focus on oncology. This partnership is a significant milestone to further expand our business in urology and to establish our franchise in oncology." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

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