ARDANA SECURES FULL GLOBAL RIGHTS TO LONG
ACTING GNRH ANTAGONIST FROM ZENTARIS
Ardana Bioscience, the specialty pharmaceutical company dedicated
to better reproductive health, has acquired full global rights
to the Gonadotrophin releasing hormone (GnRH)-antagonist, Teverelix,
which has the potential to treat prostate cancer, endometriosis
and benign prostate hyperplasia, from the biopharmaceutical company
Zentaris, a wholly owned subsidiary of Aeterna Laboratories Inc
(NASDAQ:AELA;TSX:AEL). In return, Zentaris receives a series of
undisclosed payments on signature, during the remainder of product
development and on attainment of certain milestones and sales.
Under the terms of the agreement, Ardana has acquired all outstanding
territorial rights to Teverelix (Japan, Korea and Taiwan) and
is assigned the intellectual property relating to the drug and
the underlying microcrystalline suspension technology on a worldwide
basis. Ardana acquired all other territorial rights to Teverelix
in July 2002. As part of the agreement Zentaris will continue
to provide certain development services for and supply clinical
samples to Ardana. Phase I trials with a sustained release formulation
of Teverelix are nearing conclusion.
Dr Maureen Lindsay, Ardana Chief Operating Officer said: We are
delighted to have secured all global rights to Teverelix, such
that we can reap the full benefits of its development and commercialization.
Our strategy is to focus on drugs prescribed by specialist clinicians,
a market we can service effectively with our planned specialist
sales force. Teverelix fits neatly into this strategy and is central
to our burgeoning research and development portfolio, which is
on track to provide products which address five different indications
in Phase III clinical trials by the end of 2005.
Professor Dr Juergen Engel, Chairman and Managing Director of
Zentaris GmbH and Chief Operating Officer of Aeterna commented:
We are delighted to extend our existing relationship with Ardana.
It emphasizes the commitment of Ardana to the successful development
of Teverelix and allows for Zentaris to benefit from the commercialization
of the product.
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