Ireland's Galen Pharmaceuticals bought the rights to intravenous chemotherapy drug DaunoXome from Gilead Sciences ($GILD), giving Galen its first oncology drug and entry into the U.S. market.
Neither side disclosed financial terms. DaunoXome has been approved in the U.S. since 1996 to treat HIV-related Kaposi's sarcoma, a form of cancer that affects the skin and organs, according to Drug Store News. Given by intravenous drip every two weeks for about an hour, the drug's molecules are surrounded by a protective coating so it stays in the body longer and more of it reaches the cancer cells, according to Galen's description of the drug.
Galen has a U.S. subsidiary that will market the drug. The company will also sell the drug in 12 European countries and in Brazil. According to PMLive, Galen had previously focused in the U.K. and Ireland on drugs for COPD, urology and pain, both branded and generic.
In 2006, as FierceBiotech told you, French biotech Diatos in-licensed DaunoXome from Gilead and agreed to pay up to $4.7 million plus royalties for the drug.