Categorynews

Starpharma Signs Second Oncology Agreement With AstraZeneca

June 3, 2019 Off By BusinessWire

Starpharma has signed a Development and Option Agreement with
AstraZeneca to progress the development of a Dendrimer Enhanced
Product (DEP^®) version of one of
AstraZeneca’s major marketed oncology medicines.
Following completion of agreed preclinical studies by Starpharma,
AstraZeneca has the option to licence the DEP^®
oncology drug candidate for an option exercise fee of US$5M, plus
industry standard development and commercialisation milestones and
escalating royalties on sales.
If AstraZeneca does not exercise the option to license the drug
candidate, Starpharma has the option to license the rights to
develop and commercialise the drug candidate itself or through a
sub-licensee with milestones and royalties paid to AstraZeneca upon
commercialisation of the product.
This second oncology agreement follows an existing multiproduct
licence for use of Starpharma’s DEP^® drug
delivery platform in the development and commercialisation of several
AstraZeneca oncology drug candidates, including AZD0466.

MELBOURNE, Australia–(BUSINESS WIRE)–Starpharma (ASX: SPL, OTCQX: SPHRY) today announced a Development and
Option Agreement with AstraZeneca (LON: AZN) to progress the development
of a Dendrimer Enhanced Product (DEP^®) version of an
undisclosed AstraZeneca major marketed oncology medicine. This is the
second DEP^® commercial agreement Starpharma has signed with
AstraZeneca, the first agreement being a multiproduct licence which
covers novel oncology drug candidates such as AZD0466 (a Bcl2/xL
inhibitor).

The agreement was signed during the 2019 ASCO (American Society of
Clinical Oncology) meeting in Chicago. ASCO attracts more than 40,000
cancer doctors, scientists, investors, pharmaceutical and life science
executives.

Under this agreement, Starpharma will conduct preclinical testing of the
DEP^® version of the AstraZeneca oncology product. At any time
from the signing of this agreement and for a defined period after the
completion of this testing, AstraZeneca may exercise its option and
licence the DEP^®drug candidate for clinical and commercial
development. If AstraZeneca exercises the option, an option exercise fee
of US$5 million is payable to Starpharma, as well as industry
standard development and commercialisation milestones and escalating
royalties on sales. Further details regarding the major oncology
medicine involved, drug candidates, and terms of the agreement remain
confidential at this time for competitive reasons.

In the event AstraZeneca does not exercise its option to licence the DEP^®drug candidate within the defined period, Starpharma has the
option to license the rights to develop and commercialise this DEP^®
drug either itself or through a sub-licensee with milestones and
royalties paid to AstraZeneca upon commercialisation of the resultant DEP^®
product.

Dr Jackie Fairley, Starpharma Chief Executive Officer, said: “We are
delighted to sign a new commercial DEP^® agreement at ASCO
with our long-standing partner, AstraZeneca. This agreement follows a
successful research program under which we identified a promising DEP^®
candidate with a number of potential benefits. This agreement represents
the culmination of that work and this DEP^® product has the
potential to provide significantly enhanced patient benefit. Unlike our
first DEP^® agreement with AstraZeneca, which applies DEP^®
to novel oncology drug candidates, this agreement is for an existing
major AstraZeneca oncology medicine and provides further validation of
the value of the DEP^® platform and its broad application to
both new chemical entities and existing products.”

Susan Galbraith, Senior Vice President, R&D Early Oncology, AstraZeneca,
said: “Building on our long-standing and successful working relationship
with Starpharma, this agreement will enable us to further evaluate the
potential of the DEP^® technology with the aim of improving
treatment outcomes for patients.”

Starpharma’s DEP^® platform remains available for further
partnerships. Licences are typically product specific and structured to
allow for multiple partnered-DEP^® programs to run in parallel.