Biotech Values

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OXGN CA4P, oxgn's vascular disrupting agent (VDA) is at least as good (probably better) as Antisomas DMXXA and they will soon start a phase 3 study in ATC. In addition, they will soon release phase 1 data from oxgn's second generation VDA, OXI4503

Antisoma announces global agreement with Novartis for cancer drug AS1404
19 April 2007

London, UK: 19 April 2007 – Antisoma plc announced today that it has signed an exclusive global licensing agreement with Novartis for its vascular disrupting agent AS1404 (DMXAA).

Antisoma will receive near-term payments of USD 100 million. USD 75 million will be paid immediately and a further USD 25 million when AS1404 enters a phase III trial in lung cancer.

Antisoma will be eligible for total upfront, development, regulatory and sales-related milestone payments of up to USD 890 million, contingent upon successful development and marketing of AS1404 in multiple indications, launch of back-up products in multiple indications, and achievement of sales milestones. Furthermore, if AS1404 is approved and commercialised, Antisoma will receive royalties on AS1404 sales and will have an option to co-commercialise AS1404 in the United States.

Novartis will fund and conduct all future development of AS1404, and will also fund the outstanding costs of the phase II trials currently being completed by Antisoma. The agreement also includes the potential for Novartis to fund certain of Antisoma’s commercialisation costs.

Novartis’ development plans for AS1404 include a phase III study in squamous non-small cell lung cancer, expected to start early in 2008, and a number of supporting studies in lung and other cancers. There will also be phase III trials in prostate and ovarian cancers if final results from phase II trials in these indications are positive.

Dr Ursula Ney, Antisoma’s Chief Operating Officer, said: “We’re delighted to have partnered AS1404 with Novartis, who have a strong commitment to oncology and the worldwide development and marketing infrastructure to make the most of the very significant opportunity this drug provides.”

Glyn Edwards, Antisoma’s CEO, said: “This deal provides both extra resources and new strategic options for Antisoma. We plan to use it as a springboard to further expand our pipeline and to exploit the value in our present portfolio. We now have an excellent opportunity to gain direct involvement in selling our own products.”