TOKYO, Nov 16, 2009 (AsiaPulse via COMTEX) — — Nippon Kayaku Co. (TSE:4272) has gained development and marketing rights in Asia except South Korea to a bladder-cancer agent from U.S. company Spectrum Pharmaceuticals Inc.
Spectrum is currently in phase III clinical trials in Europe and the U.S. with apaziquone for post-surgical treatment of bladder cancer following transurethral tumor removal.
Nippon Kayaku made a one-time payment of US$15 million for the development and marketing rights to the candidate drug and hopes to begin phase I trials in Japan in 2010. The company will pay Spectrum royalties on any sales that result.
For Nippon Kayaku, the licensing deal is another step in a broader strategy of expanding its line of cancer drugs.