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.
SAVENE is indicated for the treatment of extravasation in anthracycline chemotherapy in adults. Extravasation occurs when anticancer drugs, normally injected into a vein, leak or are accidentally injected into tissue surrounding the vein where they can cause serious damage. SAVENE is the only authorized treatment of its kind available. Its use within the first six hours of extravasation occurring is crucial and enables affected patients to continue their anticancer treatment.
SAVENE has Orphan Drug status and protection until late 2016 with a worldwide method of use patent until 2020. In 2013 the sales were approximately €3.8million.
Under the terms of the agreement, Clinigen will assume full responsibility for SAVENE's manufacturing, registration, distribution, and commercialization in all markets globally excluding the Americas, Israel and South Africa. In Japan, Clinigen will provide SAVENE through an existing supply and license agreement with Kissei Pharmaceutical Co. Ltd, the marketing authorization holder.
In 2013 the Group also acquired Cardioxane® from Novartis which, like SAVENE, has dexrazoxane as its active substance and is also an oncology support therapy; used to prevent the cardiotoxicity of anthracyclines for patients with advanced and/or metastatic breast cancer. The acquisition of SAVENE allows Clinigen to exploit synergies between the two products.
Peter George, Chief Executive Officer, Clinigen Group, said: "In acquiring both SAVENE and Cardioxane, Clinigen will expand its strategic options in oncology support and consolidate its supply chain. The acquisition was a natural move for us and is in line with our stated strategy to expand our specialty pharmaceuticals portfolio."
David Bryant, Senior Vice President, Clinigen SP, said: "This is the fourth product to be added to our specialty pharmaceuticals portfolio. This acquisition has helped strengthen our position in the oncology support area, adding SAVENE to Cardioxane and Foscavir®. We continue to focus on the acquisition of niche, hospital-only therapies which have the potential to save the lives of critically ill patients."
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Notes To Editors
About SAVENE® (dexrazoxane)
SAVENE® is a powder and diluent that are made up into a solution for infusion. It contains the active substance dexrazoxane. SAVENE is used to treat extravasation of anthracyclines in adults.
Anthracycline extravasation refers to the inadvertent infiltration of chemotherapy into the subcutaneous or sub dermal tissues surrounding the intravenous or intra-arterial administration site. Management and treatment of anthracycline extravasation should be initiated as soon as possible to minimise potential tissue damage and ensure best possible treatment outcomes for patients.
SAVENE has two major mechanisms of action:
• Chelation of iron
• Inhibition of DNA topoisomerase II.
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.
About Clinigen Group
The Clinigen Group is a specialty global pharmaceutical company headquartered in the UK, with offices in the US and Japan. The Group, dedicated to delivering 'the right drug, to the right patient at the right time', has three operating businesses; Specialty Pharmaceuticals (Clinigen SP), Clinical Trials Supply (Clinigen CTS), and Global Access Programs (Clinigen GAP). Clinigen SP is focused on acquiring its own intellectual property in licensed, niche, hospital-only critical care medicines, increasing the value of these medicines by developing new formulations and indications, then registering and marketing them in defined global markets.
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.
For more information, please visit www.clinigengroup.com.
About SpePharm AG
SpePharm AG is a joint venture between Norgine B.V. and the former shareholders of SpePharm Holding B.V. which was formed in 2012 to commercialize SpePharm's Specialty Pharmaceutical products through Norgine's European infrastructure.
About Norgine B.V.
Norgine is a leading independent European specialty pharmaceutical company that has been established for over 100 years and has a presence in all major European markets. In 2013, Norgine's total revenue was €274 million and the company employs over 1,000 people.
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.
For more information please contact:
Clinigen Group plc
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