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Pfizer Announces Intention to Acquire NextWave Pharmaceuticals; Seattle Genetics Expands ADC Collaboration with Abbott; and More.
AstraZeneca and Ironwood Pharmaceuticals have agreed to codevelop and cocommercialize Ironwood’s linaclotide in China. Linaclotide is a guanylate cyclase-C (GC-C) agonist approved by FDA, in August 2012, for treating irritable bowel syndrome with constipation and chronic idiopathic constipation. The companies are jointly responsible for strategic oversight of the development and commercialization of linaclotide in China. AstraZeneca will have primary responsibility for the local operational execution. Under the collaboration, AstraZeneca will make an upfront payment of $25 million to Ironwood and will share the net profits and losses associated with linaclotide in China, with AstraZeneca carrying 55% until a certain specified milestone is achieved, moving to a 50/50 split thereafter. Ironwood will also be eligible for $125 million in additional commercial milestone payments, contingent on the achievement of certain sales targets. Read More
Catalent Pharma Solutions has launched the Catalent Applied Drug Delivery Institute to promote innovation, knowledge-sharing, and collaboration between industry leaders, academic experts, customers and regulators to enhance understanding of available, emerging, and future drug-delivery technologies and improve patient care. As part of its mission, the Catalent Applied Drug Delivery Institute will serve as a link between industry and academia by providing guidance, counsel, and resources on major issues pertaining to drug development, delivery, and formulation. The Institute will develop programs that facilitate mutually beneficial collaborations, increase communication, and shed light on regulatory issues affecting drug developers and researchers. It also will pursue a multitiered approach of seed funding, strategic counsel, and educational programs to advance the adoption of emerging technologies. Catalent announced the launch of the institute at the 2012 American Association of Pharmaceutical Scientists (AAPS) Annual Meeting and Exposition in Chicago earlier this month. Read More
Pfizer has announced its intention to acquire NextWave Pharmaceuticals, a privately held specialty pharmaceutical company focused on the development and commercialization of products for the treatment of attention deficit/hyperactivity disorder (ADHD) and related central nervous system disorders. NextWave is the developer of Quillivant XRTM (methylphenidate hydrochloride) for extended-release oral suspension, CII, a once-daily liquid medication approved in the US for the treatment of ADHD. NextWave holds exclusive North American commercialization rights to Quillivant XR. Quillivant XR received approval from the FDA on Sept. 27, 2012, and is expected to be available in pharmacies in the US in January 2013. Read More
The biotechnology company Seattle Genetics has expanded its antibody-drug conjugate (ADC) collaboration with Abbott. Under the expanded deal, Abbott will pay an upfront fee of $25 million for rights to use Seattle Genetics’ auristatin-based ADC technology with antibodies to additional oncology targets. In addition, Seattle Genetics may receive up to $220 million in potential milestone payments per additional target upon achieving predetermined development and commercial objectives, as well as mid-to-high single-digit royalties on worldwide net sales of any resulting products under the multitarget collaboration. Read More
A roundup of additional company and people news from pharmaceutical and biopharmaceutical companies, their suppliers, and contract-service providers. Read More