Clinigen Group Acquires Oncology Support Therapy SAVENE® (dexrazoxane) from SpePharm AG
Acquisition strengthens Clinigen's position in dexrazoxane market |
Burton-on-Trent, UK – 31 March 2014 – Clinigen Group plc ('Clinigen' or the 'Group') (LSE: CLIN) (AIM: CLIN) the specialty global pharmaceutical company today announces the acquisition of SAVENE® (dexrazoxane) from SpePharm AG, a majority owned affiliate of Norgine B.V. The financial terms of the acquisition are not being disclosed. |
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Notes To Editors About SAVENE® (dexrazoxane) SAVENE has two major mechanisms of action: Dexrazoxane binds to iron and prevents the formation of free radicals, which are considered to play a major role in the development of extravasation-induced tissue necrosis. In addition, dexrazoxane binds to DNA topoisomerase II at a different step in the catalytic cycle than anthracyclines and locks the enzyme in a form that is no longer affected by the anthracyclines. SAVENE was designated an 'orphan drug' in 2001. SAVENE® is the fourth product to be added to Clinigen's Specialty Pharmaceuticals business. In addition to its close strategic fit with Cardioxane® (dexrazoxane hydrochloride), SAVENE complements Foscavir® (foscarnet sodium), Clinigen's anti-viral active against Cytomegalovirus (CMV) commonly used in the support of leukemia patients undergoing bone marrow transplants, acquired from AstraZeneca in March 2010. In addition VIBATIV® (telavancin), an anti-bacterial for the treatment of nosocomial pneumonia caused by MRSA was in-licensed for commercialization in the EU from Theravance in March 2013. All four drugs in Clinigen's portfolio are highly specialized, hospital-only drugs which Clinigen SP markets into licensed markets and Clinigen GAP supplies into pre- or unlicensed markets on a named patient basis. About SpePharm AG Norgine's focus is the development and marketing of pharmaceutical products that address significant unmet clinical needs in therapeutic areas such as gastroenterology, hepatology, critical and supportive care. Norgine owns a manufacturing and development site in Hengoed, UK and a manufacturing site in Dreux, France. For more information, please visit www.norgine.com. NORGINE and the sail logo are trademarks of the Norgine group of companies. |
Issued for and on behalf of Clinigen by Instinctif Partners. |
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Clinigen Group plc Norgine B.V. Numis Securities Limited Peel Hunt LLP - Joint Broker Instinctif Partners (media relations) |
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